Solventum Co. (NYSE:SOLV) Stake Lessened by Farmers Trust Co.

Farmers Trust Co. lowered its holdings in Solventum Co. (NYSE:SOLV) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,695 shares of the company’s stock after selling 2,639 shares during the period. Farmers Trust Co.’s holdings in Solventum were worth $5,984,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SOLV. Norges Bank purchased a new stake in shares of Solventum in the fourth quarter valued at $203,740,000. Boston Partners purchased a new stake in shares of Solventum during the fourth quarter worth $110,378,000. Trian Fund Management L.P. raised its holdings in shares of Solventum by 18.8% during the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock worth $559,054,000 after acquiring an additional 1,336,564 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Solventum by 105.0% during the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after acquiring an additional 821,272 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company’s stock worth $78,833,000 after acquiring an additional 347,669 shares in the last quarter.

Solventum Price Performance

NYSE SOLV opened at $72.55 on Friday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The stock’s 50-day moving average is $69.48 and its two-hundred day moving average is $71.27. 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 firm has a market cap of $12.55 billion and a P/E ratio of 33.59.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a 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 report on Friday, February 28th. Mizuho increased their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, Bank of America increased their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Solventum currently has an average rating of “Hold” and a consensus price target of $80.29.

Solventum Company 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.