Solventum Co. (NYSE:SOLV) Shares Bought by Colonial Trust Co SC

Colonial Trust Co SC lifted its holdings in shares of Solventum Co. (NYSE:SOLV) by 240.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 511 shares of the company’s stock after buying an additional 361 shares during the period. Colonial Trust Co SC’s holdings in Solventum were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SOLV. Stonebridge Financial Group LLC purchased a new position in shares of Solventum in the 4th quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in Solventum in the 4th quarter valued at $32,000. Synergy Asset Management LLC acquired a new position in Solventum in the 4th quarter valued at $35,000. Spire Wealth Management purchased a new position in Solventum during the 4th quarter worth $37,000. Finally, Global Trust Asset Management LLC lifted its stake in shares of Solventum by 137.5% in the 4th quarter. Global Trust Asset Management LLC now owns 570 shares of the company’s stock worth $38,000 after acquiring an additional 330 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SOLV. 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. Mizuho raised their price target on 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 increased their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. 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 research report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Solventum Stock Performance

NYSE:SOLV opened at $70.22 on Friday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a market capitalization of $12.15 billion and a P/E ratio of 25.53. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm has a 50-day moving average price of $70.17 and a two-hundred day moving average price of $71.27.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 earnings per share. As a group, research analysts expect that Solventum Co. will post 6.58 earnings per share 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.