Solventum Co. (NYSE:SOLV) Holdings Reduced by Cetera Trust Company N.A

Cetera Trust Company N.A cut its holdings in shares of Solventum Co. (NYSE:SOLV) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,412 shares of the company’s stock after selling 187 shares during the period. Cetera Trust Company N.A’s holdings in Solventum were worth $168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum in the second quarter valued at $25,000. Hollencrest Capital Management bought a new position in shares of Solventum during the 2nd quarter valued at about $25,000. Partnership Wealth Management LLC acquired a new position in shares of Solventum in the 2nd quarter worth approximately $26,000. Richard W. Paul & Associates LLC acquired a new stake in Solventum during the second quarter valued at approximately $26,000. Finally, Family Firm Inc. acquired a new position in Solventum in the second quarter worth approximately $26,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SOLV shares. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Wolfe Research assumed coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Wells Fargo & Company cut their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Argus initiated coverage on shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. 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’s stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $64.33.

Solventum Stock Down 0.1 %

Shares of NYSE SOLV traded down $0.10 during mid-day trading on Tuesday, reaching $73.00. The company had a trading volume of 179,813 shares, compared to its average volume of 1,812,490. The stock has a fifty day moving average of $66.44 and a two-hundred day moving average of $61.08. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. 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 announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast 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.