Solventum Co. (NYSE:SOLV) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in shares of Solventum Co. (NYSE:SOLV) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,413 shares of the company’s stock after selling 923 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Solventum were worth $935,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SOLV. Davis Selected Advisers acquired a new position in Solventum during the 2nd quarter worth about $273,070,000. Nuance Investments LLC purchased a new stake in Solventum during the 2nd quarter worth approximately $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the 2nd quarter worth approximately $98,976,000. Baupost Group LLC MA purchased a new position in Solventum in the 2nd quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC grew its stake in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after acquiring an additional 1,440,410 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler started coverage on shares of Solventum in a research note on Monday, October 7th. They set a “neutral” rating and a $71.00 target price on the stock. Morgan Stanley decreased their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.33.

Solventum Trading Down 0.7 %

Shares of NYSE:SOLV opened at $72.61 on Wednesday. The firm has a 50 day simple moving average of $66.73 and a 200-day simple moving average of $61.10. Solventum Co. has a twelve month low of $47.16 and a twelve 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.

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