Trust Co. of Vermont Cuts Stake in Solventum Corporation (NYSE:SOLV)

Trust Co. of Vermont decreased its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 84.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,477 shares of the company's stock after selling 13,244 shares during the quarter. Trust Co. of Vermont's holdings in Solventum were worth $188,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Solventum by 1,101.4% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 877 shares of the company's stock valued at $67,000 after buying an additional 804 shares during the period. Hikari Power Ltd purchased a new stake in shares of Solventum in the first quarter valued at $357,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Solventum by 8.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 31,238 shares of the company's stock valued at $2,375,000 after acquiring an additional 2,544 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Solventum by 137.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 17,344 shares of the company's stock worth $1,319,000 after acquiring an additional 10,027 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Solventum by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after purchasing an additional 159 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SOLV shares. KeyCorp began coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Morgan Stanley boosted their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Finally, Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Solventum currently has an average rating of "Hold" and an average price target of $81.50.

Solventum Stock Up 0.3%

Shares of Solventum stock traded up $0.25 during trading on Wednesday, hitting $78.14. 347,786 shares of the stock traded hands, compared to its average volume of 1,123,792. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock's fifty day simple moving average is $71.98 and its 200 day simple moving average is $71.97. The firm has a market cap of $13.52 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.55. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. Solventum's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. On average, equities analysts predict that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.