Wesbanco Bank Inc. Sells 1,393 Shares of Solventum Co. (NYSE:SOLV)

Wesbanco Bank Inc. decreased its stake in Solventum Co. (NYSE:SOLV) by 14.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,414 shares of the company’s stock after selling 1,393 shares during the period. Wesbanco Bank Inc.’s holdings in Solventum were worth $587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the 2nd quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new position in shares of Solventum in the second quarter valued at $25,000. Partnership Wealth Management LLC acquired a new position in shares of Solventum in the second quarter valued at $26,000. Richard W. Paul & Associates LLC bought a new position in Solventum in the second quarter worth $26,000. Finally, Family Firm Inc. acquired a new stake in Solventum during the second quarter worth $26,000.

Solventum Price Performance

SOLV stock opened at $71.41 on Thursday. The business has a fifty day moving average price of $65.59 and a 200 day moving average price of $60.93. 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 fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SOLV shares. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Bank of America cut their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Argus initiated coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Finally, Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.33.

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.