Cypress Capital Group Acquires Shares of 18,987 Solventum Co. (NYSE:SOLV)

Cypress Capital Group acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,987 shares of the company’s stock, valued at approximately $1,004,000.

A number of other hedge funds have also recently added to or reduced their stakes in SOLV. EverSource Wealth Advisors LLC bought a new position in shares of Solventum during the first quarter valued at about $30,000. Richard W. Paul & Associates LLC bought a new position in Solventum during the second quarter valued at about $26,000. Family Firm Inc. purchased a new stake in Solventum during the second quarter worth about $26,000. Partnership Wealth Management LLC bought a new stake in Solventum in the second quarter worth about $26,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Solventum in the second quarter valued at about $27,000.

Solventum Trading Up 0.5 %

Solventum stock traded up $0.28 during mid-day trading on Monday, hitting $61.68. 78,530 shares of the company traded hands, compared to its average volume of 2,045,818. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The business’s fifty day moving average price is $54.79.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. Analysts expect that Solventum Co. will post 6.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOLV has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Bank of America dropped their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Argus began coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Finally, Morgan Stanley lowered their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.25.

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.