Cresset Asset Management LLC Reduces Position in Solventum Co. (NYSE:SOLV)

Cresset Asset Management LLC lessened its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 56.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,619 shares of the company's stock after selling 9,778 shares during the quarter. Cresset Asset Management LLC's holdings in Solventum were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Solventum by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock valued at $1,074,591,000 after buying an additional 75,631 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock valued at $227,992,000 after buying an additional 112,686 shares in the last quarter. Norges Bank purchased a new position in shares of Solventum during the 4th quarter valued at $203,740,000. Invesco Ltd. lifted its stake in shares of Solventum by 6.4% during the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock valued at $193,101,000 after buying an additional 176,201 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Solventum by 21.5% during the 4th quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock valued at $115,559,000 after buying an additional 309,077 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SOLV shares. Piper Sandler lowered their target price on shares of Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Mizuho boosted their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. The Goldman Sachs Group boosted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Bank of America boosted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $79.00.

Solventum Stock Down 3.5%

Shares of NYSE SOLV opened at $70.95 on Thursday. The firm's 50-day moving average price is $69.93 and its 200-day moving average price is $71.28. 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 stock has a market capitalization of $12.27 billion and a price-to-earnings ratio of 32.85. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. On average, equities research analysts anticipate that Solventum Co. will post 6.58 EPS for the current fiscal year.

About Solventum

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.

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