Daymark Wealth Partners LLC Takes $373,000 Position in Solventum Co. (NYSE:SOLV)

Daymark Wealth Partners LLC acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,061 shares of the company’s stock, valued at approximately $373,000.

Several other large investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in Solventum in the 1st quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in shares of Solventum in the second quarter worth approximately $25,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of Solventum during the second quarter worth approximately $25,000. Richard W. Paul & Associates LLC acquired a new position in Solventum in the 2nd quarter valued at $26,000. Finally, Family Firm Inc. purchased a new position in Solventum in the 2nd quarter valued at $26,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SOLV shares. Morgan Stanley dropped their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on Solventum in a report on Thursday. They set a “peer perform” rating on the stock. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Trading Down 0.8 %

Shares of Solventum stock opened at $67.57 on Friday. The stock has a 50 day simple moving average of $62.70. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts predict that Solventum Co. will post 6.38 earnings per share 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.