Solventum Co. (NYSE:SOLV) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 30.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,223 shares of the company’s stock after selling 537 shares during the period. Independence Bank of Kentucky’s holdings in Solventum were worth $93,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. acquired a new position in Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Solventum during the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the 4th quarter worth approximately $29,000. Colonial Trust Co SC boosted 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 acquiring an additional 361 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Solventum during the 4th quarter worth approximately $37,000.

Solventum Price Performance

SOLV stock opened at $74.83 on Monday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. 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’s 50 day moving average price is $69.36 and its 200 day moving average price is $71.55. The firm has a market cap of $12.95 billion, a P/E ratio of 34.64, a PEG ratio of 1.94 and a beta of 0.54.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, sell-side analysts expect that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SOLV shares. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. KeyCorp started coverage on Solventum in a research note on Friday. They set a “sector weight” rating on the stock. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Mizuho boosted their price target on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.