Nuveen Asset Management LLC Decreases Stake in Solventum Co. (NYSE:SOLV)

Nuveen Asset Management LLC cut its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 474,406 shares of the company's stock after selling 32,326 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Solventum worth $31,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. bought a new stake in Solventum during the fourth quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in Solventum during the fourth quarter worth $26,000. Crews Bank & Trust bought a new stake in Solventum during the fourth quarter worth $32,000. Colonial Trust Co SC increased its holdings in shares of Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after buying an additional 361 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of Solventum during the fourth quarter worth $35,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOLV. Bank of America upped their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Mizuho upped their price target on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and upped their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Solventum has a consensus rating of "Hold" and a consensus price target of $80.29.

Solventum Stock Down 2.5%

Shares of SOLV stock traded down $1.81 on Friday, reaching $70.85. 1,119,844 shares of the company were exchanged, compared to its average volume of 1,246,786. The company has a market cap of $12.26 billion and a price-to-earnings ratio of 32.80. The company has a 50-day moving average of $69.71 and a 200-day moving average of $71.30. 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 one year low of $47.16 and a one year high of $85.92.

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