Cardinal Capital Management purchased a new stake in Solventum Co. (NYSE:SOLV – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 11,781 shares of the company’s stock, valued at approximately $623,000.
Other hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new stake in Solventum in the second quarter valued at about $26,000. M&R Capital Management Inc. acquired a new stake in shares of Solventum during the 2nd quarter valued at about $27,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Solventum during the 2nd quarter worth approximately $27,000. S.A. Mason LLC purchased a new position in Solventum in the 2nd quarter valued at about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Solventum during the 2nd quarter worth $29,000.
Solventum Price Performance
Shares of NYSE:SOLV traded up $1.93 during trading on Friday, hitting $60.59. 2,411,871 shares of the stock were exchanged, compared to its average volume of 2,188,416. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a fifty day simple moving average of $54.12. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33.
Analyst Ratings Changes
Several equities analysts have weighed in on SOLV shares. Bank of America decreased their target price on shares of 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 decreased their target price on Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company dropped 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 note on Friday. Finally, Argus started coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.75.
View Our Latest Stock Report on SOLV
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.
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