Wesbanco Bank Inc. Reduces Position in Solventum Co. (NYSE:SOLV)

Wesbanco Bank Inc. lowered its position in shares of Solventum Co. (NYSE:SOLV) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,485 shares of the company’s stock after selling 929 shares during the period. Wesbanco Bank Inc.’s holdings in Solventum were worth $494,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC bought a new position in shares of Solventum in the 3rd quarter worth about $26,000. Modus Advisors LLC purchased a new stake in Solventum in the fourth quarter worth about $25,000. Mather Group LLC. bought a new position in shares of Solventum during the third quarter valued at approximately $27,000. True Wealth Design LLC lifted its holdings in shares of Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after purchasing an additional 471 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Solventum in the 3rd quarter worth approximately $35,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho began coverage on Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Morgan Stanley lifted their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.29.

Solventum Stock Performance

Shares of Solventum stock opened at $74.93 on Friday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company’s fifty day simple moving average is $69.41 and its 200-day simple moving average is $66.13. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. On average, equities analysts anticipate 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.