Perigon Wealth Management LLC Has $305,000 Stock Holdings in Solventum Co. (NYSE:SOLV)

Perigon Wealth Management LLC decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,193 shares of the company’s stock after selling 389 shares during the period. Perigon Wealth Management LLC’s holdings in Solventum were worth $305,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SOLV. KBC Group NV raised its holdings in shares of Solventum by 725.3% in the fourth quarter. KBC Group NV now owns 234,933 shares of the company’s stock valued at $15,520,000 after purchasing an additional 206,466 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after purchasing an additional 161 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Solventum in the fourth quarter valued at about $58,000. Exchange Traded Concepts LLC raised its holdings in shares of Solventum by 1,593.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company’s stock valued at $968,000 after purchasing an additional 13,785 shares during the last quarter. Finally, IVC Wealth Advisors LLC raised its holdings in shares of Solventum by 8.9% in the fourth quarter. IVC Wealth Advisors LLC now owns 7,243 shares of the company’s stock valued at $478,000 after purchasing an additional 594 shares during the last quarter.

Solventum Price Performance

Shares of NYSE SOLV opened at $74.05 on Monday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock has a fifty day moving average of $70.17 and a 200-day moving average of $67.33.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Sell-side analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOLV shares. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho began coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.