Capital Investment Advisors LLC Decreases Stake in Solventum Co. (NYSE:SOLV)

Capital Investment Advisors LLC lessened its holdings in Solventum Co. (NYSE:SOLV) by 20.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,947 shares of the company’s stock after selling 2,519 shares during the quarter. Capital Investment Advisors LLC’s holdings in Solventum were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SOLV. Blue Trust Inc. bought a new position in shares of Solventum during the 3rd quarter valued at approximately $538,000. QV Investors Inc. grew its holdings in Solventum by 59.4% during the third quarter. QV Investors Inc. now owns 250,562 shares of the company’s stock valued at $17,469,000 after purchasing an additional 93,370 shares during the period. HTLF Bank purchased a new stake in Solventum in the third quarter worth $222,000. Swedbank AB raised its stake in shares of Solventum by 20.3% in the third quarter. Swedbank AB now owns 107,197 shares of the company’s stock valued at $7,474,000 after buying an additional 18,108 shares during the period. Finally, Washington Capital Management Inc. lifted its position in shares of Solventum by 83.7% during the 3rd quarter. Washington Capital Management Inc. now owns 9,000 shares of the company’s stock valued at $627,000 after buying an additional 4,100 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SOLV. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Stifel Nicolaus started coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Argus began coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. Piper Sandler began coverage on Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 target price on the stock. Finally, BTIG Research initiated coverage on Solventum in a research report 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 given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Solventum currently has an average rating of “Hold” and an average target price of $64.33.

Solventum Price Performance

SOLV opened at $73.68 on Monday. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a fifty day moving average price of $66.13 and a 200-day moving average price of $61.04. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last posted 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 business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate 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.