Koshinski Asset Management Inc. Decreases Stake in Solventum Co. (NYSE:SOLV)

Koshinski Asset Management Inc. decreased its holdings in Solventum Co. (NYSE:SOLV) by 5.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,334 shares of the company’s stock after selling 271 shares during the period. Koshinski Asset Management Inc.’s holdings in Solventum were worth $302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in shares of Solventum in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in Solventum in the 1st quarter valued at $30,000. Hollencrest Capital Management purchased a new position in Solventum in the second quarter valued at about $25,000. Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum during the second quarter worth about $25,000. Finally, Richard W. Paul & Associates LLC purchased a new stake in shares of Solventum in the second quarter worth about $26,000.

Solventum Stock Performance

Shares of SOLV stock opened at $69.76 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company’s 50-day simple moving average is $65.28 and its 200-day simple moving average is $60.86.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SOLV shares. Bank of America dropped their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Piper Sandler assumed coverage on shares of Solventum in a report on Monday, October 7th. They set a “neutral” rating and a $71.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Wolfe Research began coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.33.

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.