Meyer Handelman Co. Sells 24,724 Shares of Solventum Co. (NYSE:SOLV)

Meyer Handelman Co. reduced its stake in Solventum Co. (NYSE:SOLV) by 51.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,084 shares of the company’s stock after selling 24,724 shares during the period. Meyer Handelman Co.’s holdings in Solventum were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after purchasing an additional 236 shares during the period. Mather Group LLC. bought a new stake in shares of Solventum in the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Solventum by 64.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock valued at $75,000 after acquiring an additional 422 shares in the last quarter. Lwmg LLC increased its position in Solventum by 3.7% during the third quarter. Lwmg LLC now owns 12,401 shares of the company’s stock worth $865,000 after acquiring an additional 443 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new stake in Solventum in the 1st quarter worth about $30,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the company 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 on the stock. Morgan Stanley dropped their price target 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. Finally, Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.33.

Solventum Stock Up 0.1 %

NYSE:SOLV opened at $68.14 on Friday. 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 twelve month low of $47.16 and a twelve month high of $96.05. The company has a 50-day simple moving average of $64.77.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. As a group, sell-side 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.