Snowden Capital Advisors LLC Sells 259 Shares of Solventum Co. (NYSE:SOLV)

Snowden Capital Advisors LLC trimmed its stake in Solventum Co. (NYSE:SOLV) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,799 shares of the company’s stock after selling 259 shares during the period. Snowden Capital Advisors LLC’s holdings in Solventum were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. New York Life Investment Management LLC increased its position in Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock worth $1,223,000 after buying an additional 136 shares in the last quarter. Blue Trust Inc. increased its holdings in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after acquiring an additional 161 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Solventum by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock worth $348,000 after acquiring an additional 181 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after purchasing an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares in the last quarter.

Solventum Trading Up 2.3%

SOLV stock opened at $75.81 on Tuesday. The firm has a market cap of $13.12 billion and a PE ratio of 35.10. The firm has a fifty day moving average price of $69.83 and a 200 day moving average price of $71.28. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOLV. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Mizuho boosted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Solventum has an average rating of “Hold” and an average 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.