Solventum Co. (NYSE:SOLV) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its position in shares of Solventum Co. (NYSE:SOLV) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,289 shares of the company’s stock after selling 982 shares during the period. CENTRAL TRUST Co’s holdings in Solventum were worth $508,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SOLV. Fifth Lane Capital LP acquired a new stake in shares of Solventum during the first quarter worth $826,000. Boit C F David bought a new stake in shares of Solventum during the 1st quarter valued at about $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Solventum during the first quarter worth about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Solventum in the first quarter worth about $209,000. Finally, LRI Investments LLC acquired a new position in Solventum in the first quarter valued at approximately $43,000.

Solventum Stock Performance

Solventum stock opened at $73.19 on Friday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company’s 50-day moving average price is $67.58 and its two-hundred day moving average price is $61.31. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Solventum Co. will post 6.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SOLV shares. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Morgan Stanley lowered their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler started coverage on shares of Solventum in a research report on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price for the company. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $64.33.

About Solventum

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.