Busey Bank Sells 835 Shares of Solventum Co. (NYSE:SOLV)

Busey Bank trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 18.3% during the 4th quarter, Holdings Channel reports. The firm owned 3,720 shares of the company’s stock after selling 835 shares during the period. Busey Bank’s holdings in Solventum were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SOLV. Blue Trust Inc. raised its holdings in Solventum by 2.1% during the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after acquiring an additional 161 shares during the period. MML Investors Services LLC raised its stake in Solventum by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock valued at $373,000 after purchasing an additional 168 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Solventum by 4.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock worth $346,000 after purchasing an additional 200 shares in the last quarter. IVC Wealth Advisors LLC lifted its holdings in Solventum by 5.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock worth $464,000 after purchasing an additional 318 shares in the last quarter. Finally, KKM Financial LLC boosted its stake in Solventum by 7.9% in the 3rd quarter. KKM Financial LLC now owns 4,367 shares of the company’s stock worth $304,000 after purchasing an additional 319 shares during the period.

Solventum Price Performance

Shares of NYSE SOLV opened at $75.21 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The firm’s 50-day moving average price is $70.00 and its 200-day moving average price is $66.98.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. On average, equities research analysts expect that Solventum Co. will post 6.58 EPS for the current year.

Analyst Ratings Changes

SOLV has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Mizuho began coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and an average price target of $68.29.

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.