Centiva Capital LP Reduces Position in Solventum Co. (NYSE:SOLV)

Centiva Capital LP lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 42.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,184 shares of the company’s stock after selling 5,958 shares during the quarter. Centiva Capital LP’s holdings in Solventum were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Solventum by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock valued at $11,826,000 after buying an additional 4,896 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Solventum by 24.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares in the last quarter. Czech National Bank raised its stake in shares of Solventum by 6.5% during the 4th quarter. Czech National Bank now owns 29,966 shares of the company’s stock valued at $1,980,000 after purchasing an additional 1,820 shares during the period. Oak Thistle LLC bought a new position in Solventum in the 4th quarter worth about $512,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Solventum by 69.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 891 shares of the company’s stock worth $59,000 after purchasing an additional 366 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price target 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. Piper Sandler cut their price target on shares of Solventum from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Friday. Mizuho upped their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Bank of America boosted their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.00.

Solventum Trading Up 5.4 %

NYSE SOLV opened at $70.22 on Friday. The stock’s 50-day simple moving average is $70.17 and its two-hundred day simple moving average is $71.28. Solventum Co. has a twelve month low of $47.16 and a twelve month 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 company has a market capitalization of $12.15 billion and a price-to-earnings ratio of 25.53.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. Research analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal 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.