Cohen Klingenstein LLC Lowers Stock Holdings in Solventum Co. (NYSE:SOLV)

Cohen Klingenstein LLC lessened its holdings in Solventum Co. (NYSE:SOLV) by 19.1% during the first quarter, Holdings Channel.com reports. The firm owned 6,369 shares of the company’s stock after selling 1,500 shares during the quarter. Cohen Klingenstein LLC’s holdings in Solventum were worth $484,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Solventum during the 4th quarter valued at approximately $990,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Solventum by 2.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,677 shares of the company’s stock valued at $904,000 after purchasing an additional 264 shares during the last quarter. Savant Capital LLC boosted its holdings in Solventum by 6.3% in the fourth quarter. Savant Capital LLC now owns 3,914 shares of the company’s stock worth $259,000 after acquiring an additional 233 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Solventum during the 4th quarter valued at about $26,000. Finally, Kentucky Trust Co bought a new stake in shares of Solventum during the fourth quarter valued at approximately $54,000.

Solventum Stock Performance

NYSE:SOLV opened at $75.49 on Wednesday. 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 fifty day moving average is $69.43 and its 200 day moving average is $71.61. The firm has a market capitalization of $13.06 billion, a PE ratio of 34.95, a PEG ratio of 1.94 and a beta of 0.54. 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 last year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. KeyCorp began coverage on Solventum in a research report on Friday, June 6th. They issued a “sector weight” rating for the company. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley upped their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Mizuho lifted their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, Bank of America boosted their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Solventum currently has an average rating of “Hold” and a consensus price target of $80.29.

Solventum 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.