Centiva Capital LP Sells 5,958 Shares of Solventum Co. (NYSE:SOLV)

Centiva Capital LP reduced its stake in Solventum Co. (NYSE:SOLV) by 42.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,184 shares of the company’s stock after selling 5,958 shares during the period. Centiva Capital LP’s holdings in Solventum were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in Solventum during the 4th quarter worth approximately $26,000. Crews Bank & Trust bought a new stake in shares of Solventum during the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC bought a new position in shares of Solventum in the 4th quarter worth $35,000. Spire Wealth Management acquired a new stake in Solventum in the 4th quarter valued at $37,000. Finally, Global Trust Asset Management LLC increased its stake in Solventum by 137.5% during the 4th quarter. Global Trust Asset Management LLC now owns 570 shares of the company’s stock valued at $38,000 after purchasing an additional 330 shares in the last quarter.

Solventum Trading Up 5.4 %

NYSE SOLV opened at $70.22 on Friday. The business’s fifty day moving average is $70.17 and its 200-day moving average is $71.28. 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 stock has a market capitalization of $12.15 billion and a price-to-earnings ratio of 25.53. Solventum Co. has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that Solventum Co. will post 6.58 EPS for the current year.

Analysts Set New Price Targets

SOLV has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Piper Sandler lowered their price target on Solventum from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Mizuho lifted their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Solventum presently has a consensus rating of “Hold” and a consensus target price of $79.00.

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.