Focus Financial Network Inc. Cuts Holdings in Solventum Co. (NYSE:SOLV)

Focus Financial Network Inc. reduced its position in shares of Solventum Co. (NYSE:SOLV) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,506 shares of the company’s stock after selling 918 shares during the quarter. Focus Financial Network Inc.’s holdings in Solventum were worth $942,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI raised its holdings in Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock worth $314,000 after purchasing an additional 236 shares during the period. IVC Wealth Advisors LLC raised its stake in shares of Solventum by 5.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock worth $464,000 after buying an additional 318 shares during the period. Copeland Capital Management LLC purchased a new position in shares of Solventum during the 3rd quarter valued at approximately $26,000. Mather Group LLC. acquired a new stake in Solventum in the 3rd quarter valued at $27,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Solventum by 64.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock worth $75,000 after acquiring an additional 422 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. BTIG Research started coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Wells Fargo & Company lowered their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.33.

Solventum Trading Down 0.2 %

NYSE SOLV opened at $72.46 on Friday. The business’s fifty day simple moving average is $68.90 and its 200-day simple moving average is $61.64. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Solventum Co. will post 6.38 EPS for the current 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.