Solventum Co. (NYSE:SOLV) Shares Sold by National Pension Service

National Pension Service trimmed its stake in shares of Solventum Co. (NYSE:SOLV) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,516 shares of the company’s stock after selling 12,547 shares during the quarter. National Pension Service’s holdings in Solventum were worth $7,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new position in Solventum in the 1st quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum in the first quarter valued at $5,747,000. CWM LLC purchased a new stake in shares of Solventum during the second quarter worth $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum during the second quarter worth $493,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the second quarter worth $58,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Piper Sandler assumed coverage on Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price for the company. Finally, Wolfe Research assumed coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Solventum Trading Up 1.3 %

NYSE:SOLV opened at $75.07 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The stock’s 50-day simple moving average is $69.67 and its 200 day simple moving average is $61.86. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal 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.