Monarch Capital Management Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Monarch Capital Management Inc. bought a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,762 shares of the company’s stock, valued at approximately $305,000.

A number of other institutional investors have also recently made changes to their positions in SOLV. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Solventum in the 2nd quarter worth about $24,533,000. Raymond James & Associates bought a new stake in shares of Solventum in the second quarter worth approximately $16,986,000. QV Investors Inc. purchased a new position in shares of Solventum during the second quarter valued at approximately $8,312,000. New York State Teachers Retirement System bought a new position in Solventum during the second quarter valued at approximately $7,652,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Solventum in the second quarter worth approximately $6,644,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America lowered their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. Finally, Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. 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 MarketBeat.com, Solventum currently has a consensus rating of “Hold” and an average price target of $58.25.

Solventum Stock Up 2.7 %

SOLV stock traded up $1.63 during trading on Friday, reaching $61.40. The company had a trading volume of 642,626 shares, compared to its average volume of 2,064,733. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The business has a 50-day simple moving average of $54.79.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Solventum Co. will post 6.4 earnings per share for the current year.

Solventum Profile

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.