Solventum Co. (NYSE:SOLV) Position Decreased by CENTRAL TRUST Co

CENTRAL TRUST Co lowered its holdings in Solventum Co. (NYSE:SOLV) by 11.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,289 shares of the company’s stock after selling 982 shares during the quarter. CENTRAL TRUST Co’s holdings in Solventum were worth $508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Davis Selected Advisers bought a new position in shares of Solventum in the second quarter valued at $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum in the 2nd quarter worth $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum during the second quarter worth $98,976,000. Baupost Group LLC MA purchased a new stake in shares of Solventum during the second quarter valued at $96,242,000. Finally, Magnetar Financial LLC boosted its position in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the period.

Wall Street Analyst Weigh In

SOLV has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus began coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Wells Fargo & Company cut their target price 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, The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.33.

Solventum Stock Down 0.0 %

Solventum stock opened at $73.19 on Friday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The company’s fifty day simple moving average is $67.58 and its 200-day simple moving average is $61.31.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Solventum Co. will post 6.38 earnings per share for the current fiscal 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.