Argyle Capital Management Inc. Has $308,000 Position in Solventum Co. (NYSE:SOLV)

Argyle Capital Management Inc. cut its stake in Solventum Co. (NYSE:SOLV) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,412 shares of the company’s stock after selling 304 shares during the period. Argyle Capital Management Inc.’s holdings in Solventum were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SOLV. National Bank of Canada FI boosted its stake in shares of Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after purchasing an additional 236 shares during the last quarter. IVC Wealth Advisors LLC lifted its stake in shares of Solventum by 5.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock valued at $464,000 after purchasing an additional 318 shares during the period. Copeland Capital Management LLC acquired a new position in shares of Solventum in the 3rd quarter valued at $26,000. Mather Group LLC. bought a new position in shares of Solventum in the 3rd quarter worth $27,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Solventum by 64.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock worth $75,000 after purchasing an additional 422 shares during the period.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOLV. Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Morgan Stanley lowered their target price 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. Wells Fargo & Company cut their price target 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, 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 research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.33.

Solventum Trading Up 0.4 %

SOLV traded up $0.27 during trading on Tuesday, hitting $73.63. 110,187 shares of the stock traded hands, compared to its average volume of 1,785,536. The business has a 50 day moving average price of $67.86 and a 200 day moving average price of $61.33. 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 twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Solventum Co. will post 6.38 EPS 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.