Fiduciary Trust Co Boosts Stock Position in Solventum Co. (NYSE:SOLV)

Fiduciary Trust Co grew its stake in Solventum Co. (NYSE:SOLV) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,915 shares of the company’s stock after purchasing an additional 526 shares during the period. Fiduciary Trust Co’s holdings in Solventum were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Clarity Asset Management Inc. purchased a new stake in shares of Solventum in the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new position in Solventum in the fourth quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in Solventum in the fourth quarter worth approximately $32,000. Colonial Trust Co SC grew its position in Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after acquiring an additional 361 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in Solventum in the fourth quarter worth approximately $35,000.

Analyst Upgrades and Downgrades

SOLV has been the subject of several analyst reports. Mizuho increased their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research 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, Bank of America raised their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.00.

Solventum Trading Up 5.4%

SOLV opened at $70.22 on Monday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The business has a fifty day simple moving average of $70.17 and a 200-day simple moving average of $71.26. The firm has a market cap of $12.15 billion and a P/E ratio of 25.53. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV) last announced its quarterly earnings data 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 company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.08 earnings per share. On average, equities analysts expect 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.