Wealth Enhancement Advisory Services LLC Has $3.47 Million Holdings in Solventum Corporation (NYSE:SOLV)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,613 shares of the company's stock after selling 3,366 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Solventum were worth $3,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SOLV. Clarity Asset Management Inc. acquired a new position in shares of Solventum during the 4th quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the fourth quarter worth $29,000. Colonial Trust Co SC boosted its stake in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after buying an additional 361 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Solventum during the fourth quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Solventum by 48.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares in the last quarter.

Solventum Stock Up 1.0%

SOLV stock traded up $0.75 during mid-day trading on Friday, hitting $75.38. The stock had a trading volume of 1,036,115 shares, compared to its average volume of 1,146,039. 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 has a market capitalization of $13.04 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 1.92 and a beta of 0.54. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a fifty day moving average of $71.30 and a 200 day moving average of $71.82.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SOLV. KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Mizuho raised their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company upped their price target on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $80.29.

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.