First National Bank & Trust Co. of Newtown Makes New $226,000 Investment in Solventum Co. (NYSE:SOLV)

First National Bank & Trust Co. of Newtown bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the third quarter, Holdings Channel reports. The fund bought 3,243 shares of the company’s stock, valued at approximately $226,000.

Several other large investors have also modified their holdings of SOLV. Deseret Mutual Benefit Administrators bought a new stake in Solventum during the second quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in shares of Solventum during the second quarter valued at about $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the 2nd quarter valued at about $26,000. Richard W. Paul & Associates LLC purchased a new position in shares of Solventum in the 2nd quarter worth approximately $26,000. Finally, Family Firm Inc. bought a new position in shares of Solventum during the 2nd quarter worth approximately $26,000.

Solventum Stock Up 1.3 %

Solventum stock opened at $75.07 on Friday. The business’s 50-day moving average price is $69.67 and its 200 day moving average price is $61.86. 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 52 week low of $47.16 and a 52 week high of $96.05.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price for the company. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. Wells Fargo & Company lowered their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, BTIG Research initiated coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $64.33.

Solventum Company 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.