IVC Wealth Advisors LLC Raises Position in Solventum Co. (NYSE:SOLV)

IVC Wealth Advisors LLC increased its holdings in shares of Solventum Co. (NYSE:SOLV) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,243 shares of the company’s stock after buying an additional 594 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Solventum were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its holdings in shares of Solventum by 137.5% during the fourth quarter. Global Trust Asset Management LLC now owns 570 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Solventum by 2.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 33,546 shares of the company’s stock worth $2,216,000 after purchasing an additional 708 shares during the last quarter. Strong Tower Advisory Services increased its stake in Solventum by 7.4% during the 4th quarter. Strong Tower Advisory Services now owns 45,893 shares of the company’s stock valued at $3,032,000 after purchasing an additional 3,168 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Solventum in the fourth quarter worth $235,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Solventum by 7.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 75,283 shares of the company’s stock valued at $4,973,000 after buying an additional 5,094 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus started coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Piper Sandler upped their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Morgan Stanley lifted their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Mizuho initiated coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.29.

Solventum Stock Down 0.1 %

SOLV stock opened at $73.59 on Friday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. 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 company’s 50-day simple moving average is $69.30 and its 200-day simple moving average is $66.08.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. As a group, equities analysts predict that Solventum Co. will post 6.58 earnings per share for the current year.

About Solventum

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.