Kanawha Capital Management LLC Sells 2,486 Shares of Solventum Co. (NYSE:SOLV)

Kanawha Capital Management LLC trimmed its holdings in Solventum Co. (NYSE:SOLV) by 34.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,688 shares of the company’s stock after selling 2,486 shares during the period. Kanawha Capital Management LLC’s holdings in Solventum were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators purchased a new stake in shares of Solventum in the second quarter worth about $25,000. Hollencrest Capital Management purchased a new stake in shares of Solventum in the second quarter worth $25,000. Partnership Wealth Management LLC bought a new stake in Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC purchased a new position in Solventum during the second quarter worth about $26,000. Finally, Family Firm Inc. bought a new position in Solventum in the 2nd quarter worth about $26,000.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price 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. The Goldman Sachs Group lifted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Solventum currently has an average rating of “Hold” and a consensus target price of $64.33.

Solventum Stock Performance

Shares of Solventum stock opened at $72.17 on Tuesday. The company’s 50 day moving average price is $69.14 and its 200-day moving average price is $61.70. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share 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 company’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts forecast 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.