Creative Financial Designs Inc. ADV Sells 466 Shares of Solventum Co. (NYSE:SOLV)

Creative Financial Designs Inc. ADV reduced its holdings in shares of Solventum Co. (NYSE:SOLV) by 29.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,141 shares of the company’s stock after selling 466 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Solventum were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Davis Selected Advisers bought a new position in Solventum in the 2nd quarter valued at $273,070,000. Nuance Investments LLC purchased a new position in Solventum during the second quarter worth about $115,829,000. Newport Trust Company LLC bought a new position in Solventum in the 2nd quarter worth about $98,976,000. Baupost Group LLC MA bought a new stake in Solventum during the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC increased its stake in Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after acquiring an additional 1,440,410 shares during the last quarter.

Solventum Stock Down 0.4 %

Shares of Solventum stock opened at $72.17 on Tuesday. 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 Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company’s fifty day simple moving average is $69.14 and its two-hundred day simple moving average is $61.70.

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, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s quarterly 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 year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SOLV shares. Morgan Stanley dropped their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Finally, Piper Sandler assumed coverage on Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 price target on the stock. One 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. Based on data from MarketBeat.com, Solventum presently has an average 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.