Solventum Co. (NYSE:SOLV) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in shares of Solventum Co. (NYSE:SOLV) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,317 shares of the company’s stock after selling 15,779 shares during the quarter. Toronto Dominion Bank’s holdings in Solventum were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Clarity Asset Management Inc. purchased a new position in shares of Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum during the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new position in shares of Solventum during the 4th quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in shares of Solventum during the 4th quarter worth approximately $32,000. Finally, Colonial Trust Co SC raised its stake in shares of Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after buying an additional 361 shares in the last quarter.

Solventum Stock Performance

Solventum stock opened at $73.04 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a fifty day moving average of $69.45 and a two-hundred day moving average of $71.29. The company has a market capitalization of $12.64 billion and a price-to-earnings ratio of 33.81. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share 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 analysts’ expectations of $2.02 billion. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. On average, analysts anticipate that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Finally, Wells Fargo & Company lifted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.29.

Solventum Company 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.