Kornitzer Capital Management Inc. KS Has $671,000 Holdings in Solventum Co. (NYSE:SOLV)

Kornitzer Capital Management Inc. KS trimmed its stake in Solventum Co. (NYSE:SOLV) by 7.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,622 shares of the company’s stock after selling 772 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Solventum were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in Solventum in the third quarter worth $26,000. Mather Group LLC. acquired a new stake in shares of Solventum during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in Solventum in the first quarter valued at about $30,000. Hollencrest Capital Management acquired a new position in Solventum in the second quarter worth about $25,000. Finally, Deseret Mutual Benefit Administrators bought a new position in Solventum during the second quarter worth about $25,000.

Solventum Trading Down 3.5 %

Shares of SOLV stock opened at $72.43 on Friday. The stock’s fifty day moving average is $70.08 and its 200-day moving average is $62.03. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Solventum Co. will post 6.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOLV. Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler upped their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Morgan Stanley lowered their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, Wells Fargo & Company dropped their target price 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.00.

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.