Mackenzie Financial Corp Sells 5,934 Shares of Solventum Co. (NYSE:SOLV)

Mackenzie Financial Corp reduced its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,095 shares of the company's stock after selling 5,934 shares during the quarter. Mackenzie Financial Corp's holdings in Solventum were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SOLV. Clarity Asset Management Inc. purchased a new stake in Solventum in the fourth quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new position in shares of Solventum during the 4th quarter valued at $26,000. Raiffeisen Bank International AG purchased a new position in shares of Solventum in the 4th quarter worth $29,000. Crews Bank & Trust purchased a new position in shares of Solventum in the 4th quarter worth $32,000. Finally, Colonial Trust Co SC grew its holdings in shares of Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after acquiring an additional 361 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Bank of America increased their price objective 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. Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group increased their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.29.

Solventum Price Performance

Shares of NYSE:SOLV traded up $1.11 during trading on Tuesday, hitting $74.23. 1,135,793 shares of the company's stock were exchanged, compared to its average volume of 1,223,537. The business's 50-day simple moving average is $69.40 and its 200 day simple moving average is $71.38. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a market cap of $12.84 billion and a price-to-earnings ratio of 34.37.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $2.08 earnings per share. As a group, equities analysts predict that Solventum Co. will post 6.58 EPS for the current 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.