Caldwell Sutter Capital Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Caldwell Sutter Capital Inc. bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 767 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SOLV. Fifth Lane Capital LP bought a new stake in shares of Solventum in the 1st quarter worth approximately $826,000. Boit C F David bought a new stake in Solventum in the first quarter worth $152,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Solventum in the first quarter worth $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Solventum in the first quarter worth $209,000. Finally, LRI Investments LLC bought a new position in shares of Solventum during the first quarter valued at $43,000.

Solventum Stock Up 0.4 %

Solventum stock traded up $0.21 during mid-day trading on Wednesday, reaching $59.66. 914,209 shares of the stock traded hands, compared to its average volume of 2,091,954. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The firm’s 50-day simple moving average is $54.54. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Solventum Co. will post 6.4 EPS for the current year.

Wall Street Analysts Forecast Growth

SOLV has been the topic of a number of analyst reports. Bank of America dropped their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Argus started coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company dropped their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Solventum 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.