Focus Partners Wealth Trims Position in Solventum Co. (NYSE:SOLV)

Focus Partners Wealth decreased its position in Solventum Co. (NYSE:SOLV) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,638 shares of the company’s stock after selling 3,660 shares during the quarter. Focus Partners Wealth’s holdings in Solventum were worth $1,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Solventum by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock worth $1,074,591,000 after purchasing an additional 75,631 shares during the period. Geode Capital Management LLC increased its holdings in Solventum by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock valued at $227,992,000 after buying an additional 112,686 shares during the last quarter. Norges Bank purchased a new stake in Solventum during the fourth quarter valued at approximately $203,740,000. Invesco Ltd. increased its holdings in Solventum by 6.4% during the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company’s stock valued at $193,101,000 after buying an additional 176,201 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Solventum by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,749,301 shares of the company’s stock valued at $115,559,000 after buying an additional 309,077 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SOLV. Morgan Stanley upped their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Mizuho upped their target price on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Finally, Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.00.

Solventum Price Performance

NYSE:SOLV opened at $74.08 on Friday. 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 business’s 50-day simple moving average is $69.79 and its two-hundred day simple moving average is $71.29. The stock has a market cap of $12.82 billion and a PE ratio of 34.30. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 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 the consensus estimate of $2.02 billion. Solventum’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. As a group, analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal year.

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.