Equitable Trust Co. Trims Stake in Solventum Corporation (NYSE:SOLV)

Equitable Trust Co. reduced its position in Solventum Corporation (NYSE:SOLV) by 9.3% in the 1st quarter, Holdings Channel reports. The firm owned 6,113 shares of the company’s stock after selling 630 shares during the period. Equitable Trust Co.’s holdings in Solventum were worth $465,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clarity Asset Management Inc. purchased a new stake in shares of Solventum in the 4th quarter valued at about $25,000. Rossby Financial LCC purchased a new stake in Solventum during the 1st quarter valued at approximately $25,000. Raiffeisen Bank International AG purchased a new stake in Solventum during the 4th quarter valued at approximately $29,000. Colonial Trust Co SC increased its position in 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 purchasing an additional 361 shares during the period. Finally, Hara Capital LLC acquired a new position in Solventum during the 1st quarter worth approximately $38,000.

Solventum Stock Up 1.2%

Shares of NYSE SOLV opened at $74.79 on Friday. Solventum Corporation has a 12-month low of $54.26 and a 12-month high of $85.92. The company has a market cap of $12.94 billion, a P/E ratio of 34.63, a P/E/G ratio of 1.91 and a beta of 0.55. 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 stock has a fifty day moving average price of $74.23 and a 200 day moving average price of $72.91.

Solventum (NYSE:SOLV) last announced its 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. Research analysts anticipate that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SOLV shares. KeyCorp started coverage on Solventum in a report on Friday, June 6th. They issued a “sector weight” rating on the stock. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Morgan Stanley raised Solventum from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Finally, Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Solventum currently has a consensus rating of “Hold” and an average price target of $84.38.

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.