Focus Partners Wealth Cuts Stock Holdings in Solventum Co. (NYSE:SOLV)

Focus Partners Wealth trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 12.9% during the 4th quarter, Holdings Channel reports. The fund owned 24,638 shares of the company’s stock after selling 3,660 shares during the period. Focus Partners Wealth’s holdings in Solventum were worth $1,629,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SOLV. Clarity Asset Management Inc. purchased a new stake in shares of Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new position in Solventum during the fourth quarter valued at $26,000. Crews Bank & Trust bought a new position in Solventum during the fourth quarter valued at $32,000. Colonial Trust Co SC lifted its position in Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock valued at $34,000 after purchasing an additional 361 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in Solventum during the fourth quarter valued at $35,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on SOLV shares. Morgan Stanley lifted their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Piper Sandler dropped their price target on Solventum from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Mizuho lifted their price target on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Bank of America lifted their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.00.

Solventum Price Performance

SOLV opened at $74.08 on Friday. The business has a fifty day moving average of $69.79 and a 200 day moving average of $71.29. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a market cap of $12.82 billion and a P/E ratio of 34.30.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Solventum’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Solventum Co. will post 6.58 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.