Asset Dedication LLC Lowers Position in Solventum Co. (NYSE:SOLV)

Asset Dedication LLC decreased its stake in Solventum Co. (NYSE:SOLV) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,856 shares of the company’s stock after selling 514 shares during the quarter. Asset Dedication LLC’s holdings in Solventum were worth $129,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators purchased a new position in shares of Solventum during the 2nd quarter valued at $25,000. Hollencrest Capital Management bought a new stake in Solventum in the 2nd quarter valued at $25,000. Partnership Wealth Management LLC purchased a new stake in Solventum in the 2nd quarter worth $26,000. Richard W. Paul & Associates LLC bought a new position in shares of Solventum during the 2nd quarter valued at about $26,000. Finally, Family Firm Inc. purchased a new position in shares of Solventum during the second quarter valued at about $26,000.

Solventum Trading Up 1.4 %

Solventum stock opened at $72.41 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 company has a 50 day moving average price of $65.87 and a 200-day moving average price of $61.01. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SOLV. The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Argus assumed coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Bank of America decreased their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, BTIG Research initiated coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.