Solventum Co. (NYSE:SOLV) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,547 shares of the company’s stock after selling 221 shares during the period. ST Germain D J Co. Inc.’s holdings in Solventum were worth $108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Davis Selected Advisers purchased a new position in Solventum during the second quarter valued at approximately $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum in the second quarter worth about $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum during the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA acquired a new stake in Solventum in the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC lifted its position in shares of Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Bank of America reduced their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Finally, Piper Sandler initiated coverage on Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Solventum currently has a consensus rating of “Hold” and an average price target of $64.33.

Solventum Price Performance

Shares of SOLV opened at $73.68 on Friday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. 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 has a fifty day simple moving average of $66.13 and a two-hundred day simple moving average of $61.06.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. 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.