Solventum Co. (NYSE:SOLV) Holdings Lowered by First Manhattan CO. LLC.

First Manhattan CO. LLC. trimmed its stake in shares of Solventum Co. (NYSE:SOLV) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,118 shares of the company’s stock after selling 592 shares during the quarter. First Manhattan CO. LLC.’s holdings in Solventum were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forsta AP Fonden bought a new stake in shares of Solventum during the 4th quarter worth about $1,876,000. New York State Teachers Retirement System raised its holdings in shares of Solventum by 4.0% in the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock worth $8,238,000 after purchasing an additional 4,819 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Solventum in the 4th quarter worth approximately $990,000. Exchange Traded Concepts LLC raised its holdings in shares of Solventum by 1,593.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company’s stock worth $968,000 after purchasing an additional 13,785 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Solventum in the 4th quarter worth approximately $18,583,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Bank of America boosted their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Finally, Piper Sandler cut their price target on shares of Solventum from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday. One 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, Solventum presently has an average rating of “Hold” and an average price target of $79.00.

Solventum Stock Up 5.4%

SOLV stock opened at $70.22 on Monday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company’s 50 day simple moving average is $70.17 and its 200-day simple moving average is $71.26. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a market capitalization of $12.15 billion and a P/E ratio of 25.53.

Solventum (NYSE:SOLV) last released its quarterly earnings results 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 firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Solventum Co. will post 6.58 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.