Sittner & Nelson LLC Trims Holdings in Solventum Co. (NYSE:SOLV)

Sittner & Nelson LLC lowered its holdings in shares of Solventum Co. (NYSE:SOLV) by 30.6% in the third quarter, Holdings Channel reports. The firm owned 661 shares of the company’s stock after selling 291 shares during the quarter. Sittner & Nelson LLC’s holdings in Solventum were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of SOLV. General American Investors Co. Inc. acquired a new stake in shares of Solventum during the third quarter worth about $14,456,000. Principal Financial Group Inc. raised its stake in Solventum by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock valued at $11,826,000 after acquiring an additional 4,896 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Solventum in the 3rd quarter valued at approximately $42,000. Concurrent Investment Advisors LLC acquired a new position in shares of Solventum in the third quarter valued at approximately $213,000. Finally, Radnor Capital Management LLC raised its stake in shares of Solventum by 19.8% during the third quarter. Radnor Capital Management LLC now owns 10,174 shares of the company’s stock worth $709,000 after purchasing an additional 1,678 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. Morgan Stanley cut their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Finally, Stifel Nicolaus began coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $64.33.

Solventum Stock Performance

Solventum stock opened at $75.07 on Friday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s fifty day moving average is $69.67 and its two-hundred day moving average is $61.86.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal year.

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.