Solventum Co. (NYSE:SOLV) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its position in Solventum Co. (NYSE:SOLV) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the company’s stock after selling 540 shares during the quarter. DAVENPORT & Co LLC’s holdings in Solventum were worth $495,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SOLV. Worldquant Millennium Advisors LLC boosted its position in Solventum by 373.6% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after purchasing an additional 37,600 shares during the period. Harbor Capital Advisors Inc. boosted its position in Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares during the period. The Manufacturers Life Insurance Company boosted its position in Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after purchasing an additional 32,051 shares during the period. State Street Corp boosted its position in Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the period. Finally, Forsta AP Fonden acquired a new position in Solventum during the 4th quarter valued at approximately $1,876,000.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SOLV. 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. Morgan Stanley boosted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler boosted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.29.

Solventum Stock Performance

Solventum stock opened at $73.43 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company’s 50-day moving average price is $70.36 and its two-hundred day moving average price is $67.80. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 7th. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.23). The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. As a group, analysts expect that Solventum Co. will post 6.58 EPS for the current fiscal year.

Solventum Company 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.