Heritage Investors Management Corp Sells 949 Shares of Solventum Co. (NYSE:SOLV)

Heritage Investors Management Corp trimmed its holdings in Solventum Co. (NYSE:SOLV) by 13.3% in the third quarter, Holdings Channel reports. The institutional investor owned 6,163 shares of the company’s stock after selling 949 shares during the period. Heritage Investors Management Corp’s holdings in Solventum were worth $430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Solventum in the first quarter valued at approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Solventum in the first quarter valued at approximately $5,747,000. CWM LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. acquired a new stake in shares of Solventum in the second quarter valued at approximately $493,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Solventum in the second quarter valued at approximately $58,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SOLV shares. 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 for the company. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Piper Sandler began coverage on shares of Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. Finally, Morgan Stanley lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.33.

Solventum Stock Up 1.4 %

Shares of NYSE:SOLV opened at $73.16 on Wednesday. The company has a fifty day moving average of $69.39 and a 200-day moving average of $61.78. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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. 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.