Whittier Trust Co. of Nevada Inc. Cuts Holdings in Solventum Co. (NYSE:SOLV)

Whittier Trust Co. of Nevada Inc. trimmed its stake in Solventum Co. (NYSE:SOLV) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,657 shares of the company’s stock after selling 1,152 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Solventum were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOLV. Fifth Lane Capital LP purchased a new position in Solventum in the first quarter valued at about $826,000. Boit C F David purchased a new position in Solventum in the first quarter valued at about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter valued at about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Solventum in the first quarter valued at about $209,000. Finally, LRI Investments LLC purchased a new position in Solventum in the first quarter valued at about $43,000.

Solventum Stock Performance

Solventum stock opened at $72.61 on Wednesday. The firm’s 50 day simple moving average is $66.73 and its 200 day simple moving average is $61.10. 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 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping 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. Analysts expect that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price 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. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Bank of America lowered their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company lowered their price target 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.33.

Solventum Company 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.