Webster Bank N. A. Buys Shares of 930 Solventum Co. (NYSE:SOLV)

Webster Bank N. A. purchased a new position in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 930 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in Solventum during the first quarter worth $30,000. Partnership Wealth Management LLC bought a new stake in Solventum during the second quarter valued at about $26,000. M&R Capital Management Inc. purchased a new position in Solventum in the second quarter valued at about $27,000. Beach Investment Counsel Inc. PA purchased a new position in Solventum in the second quarter valued at about $27,000. Finally, S.A. Mason LLC bought a new position in Solventum in the second quarter worth about $29,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday. Argus initiated coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. The Goldman Sachs Group dropped their target price on Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Bank of America decreased their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Finally, Morgan Stanley lowered their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average target price of $56.75.

Solventum Stock Performance

SOLV traded up $1.93 on Friday, reaching $60.59. 2,411,871 shares of the stock were exchanged, compared to its average volume of 2,188,416. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81. The firm’s 50-day moving average is $54.12. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts predict that Solventum Co. will post 6.25 EPS for the current year.

About Solventum

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.