Choreo LLC Sells 349 Shares of Solventum Co. (NYSE:SOLV)

Choreo LLC reduced its holdings in Solventum Co. (NYSE:SOLV) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,671 shares of the company’s stock after selling 349 shares during the quarter. Choreo LLC’s holdings in Solventum were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Solventum by 55.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,791 shares of the company’s stock worth $3,959,000 after purchasing an additional 21,362 shares in the last quarter. abrdn plc lifted its position in Solventum by 0.5% during the fourth quarter. abrdn plc now owns 183,530 shares of the company’s stock valued at $12,120,000 after purchasing an additional 834 shares during the last quarter. Spire Wealth Management purchased a new position in Solventum in the 4th quarter worth approximately $37,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Solventum by 5.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,227 shares of the company’s stock worth $345,000 after buying an additional 261 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Solventum during the 4th quarter valued at $32,000.

Solventum Trading Down 1.8 %

SOLV opened at $73.43 on Monday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The business’s 50-day moving average price is $70.40 and its 200-day moving average price is $68.02.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. On average, analysts expect that Solventum Co. will post 6.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOLV shares. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price for the company. Morgan Stanley lifted their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Piper Sandler increased their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.29.

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.