Nichols & Pratt Advisers LLP MA Has $327,000 Stock Holdings in Solventum Corporation (NYSE:SOLV)

Nichols & Pratt Advisers LLP MA cut its position in shares of Solventum Corporation (NYSE:SOLV) by 18.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,300 shares of the company’s stock after selling 981 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Solventum were worth $327,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clarity Asset Management Inc. acquired a new position in shares of Solventum during the 4th quarter worth about $25,000. Rossby Financial LCC acquired a new position in Solventum in the 1st quarter valued at about $25,000. Raiffeisen Bank International AG acquired a new position in Solventum in the 4th quarter valued at about $29,000. Colonial Trust Co SC grew its stake in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock valued at $34,000 after buying an additional 361 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in Solventum in the 4th quarter valued at about $42,000.

Analysts Set New Price Targets

A number of research analysts recently commented on SOLV shares. KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating on the stock. Argus upgraded shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday. Finally, Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and upped their price target for the company from $78.00 to $87.00 in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.50.

Solventum Stock Performance

Shares of Solventum stock opened at $77.90 on Friday. The company has a 50 day moving average of $72.43 and a 200-day moving average of $72.07. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market cap of $13.48 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.00 and a beta of 0.55.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.