Silvercrest Asset Management Group LLC Sells 326 Shares of Solventum Co. (NYSE:SOLV)

Silvercrest Asset Management Group LLC cut its stake in Solventum Co. (NYSE:SOLV) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,474 shares of the company’s stock after selling 326 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Solventum were worth $626,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SOLV. Clarity Asset Management Inc. bought a new stake in shares of Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the 4th quarter valued at about $26,000. Raiffeisen Bank International AG bought a new stake in shares of Solventum in the 4th quarter valued at about $29,000. Crews Bank & Trust bought a new stake in shares of Solventum in the 4th quarter valued at about $32,000. Finally, Colonial Trust Co SC increased its stake in Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after purchasing an additional 361 shares in the last quarter.

Solventum Price Performance

NYSE SOLV opened at $74.67 on Wednesday. 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 Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a market capitalization of $12.92 billion and a PE ratio of 34.57. The firm’s 50 day moving average is $69.87 and its 200-day moving average is $71.31.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $2.08 earnings per share. Solventum’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SOLV shares. The Goldman Sachs Group increased their target price on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $87.00 in a research note on Monday. Finally, Morgan Stanley increased their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.