Cresset Asset Management LLC Trims Stock Position in Solventum Co. (NYSE:SOLV)

Cresset Asset Management LLC cut its stake in shares of Solventum Co. (NYSE:SOLV) by 56.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,619 shares of the company’s stock after selling 9,778 shares during the quarter. Cresset Asset Management LLC’s holdings in Solventum were worth $503,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SOLV. Stonebridge Financial Group LLC purchased a new position in shares of Solventum during the fourth quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in shares of Solventum during the fourth quarter worth approximately $32,000. Synergy Asset Management LLC purchased a new position in shares of Solventum during the fourth quarter worth approximately $35,000. Spire Wealth Management purchased a new position in shares of Solventum during the fourth quarter worth approximately $37,000. Finally, Global Trust Asset Management LLC increased its position in shares of Solventum by 137.5% during the fourth 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 Analyst Weigh In

A number of equities analysts have recently issued reports on SOLV shares. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler dropped their price objective on shares of Solventum from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Wells Fargo & Company increased their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.00.

Solventum Price Performance

Shares of SOLV opened at $70.95 on Thursday. The company has a 50 day moving average of $69.93 and a two-hundred day moving average of $71.28. The company has a market cap of $12.27 billion and a price-to-earnings ratio of 32.85. 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.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. As a group, analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal 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.