Snowden Capital Advisors LLC Sells 259 Shares of Solventum Co. (NYSE:SOLV)

Snowden Capital Advisors LLC trimmed its holdings in Solventum Co. (NYSE:SOLV) by 2.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,799 shares of the company’s stock after selling 259 shares during the period. Snowden Capital Advisors LLC’s holdings in Solventum were worth $779,000 at the end of the most recent quarter.

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

Solventum Trading Up 2.3%

Shares of NYSE SOLV opened at $75.81 on Tuesday. The stock has a market capitalization of $13.12 billion and a P/E ratio of 35.10. 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 business has a fifty day moving average price of $69.83 and a 200 day moving average price of $71.28. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

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 analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $78.00 to $87.00 in a research note on Monday. 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 note on Monday, March 3rd. Wells Fargo & Company raised their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.29.

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.