Squarepoint Ops LLC Sells 68,215 Shares of Solventum Co. (NYSE:SOLV)

Squarepoint Ops LLC lowered its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,831 shares of the company's stock after selling 68,215 shares during the period. Squarepoint Ops LLC's holdings in Solventum were worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clarity Asset Management Inc. bought a new stake in Solventum in the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Solventum in the fourth quarter worth $26,000. Raiffeisen Bank International AG purchased a new stake in Solventum during the fourth quarter valued at $29,000. Crews Bank & Trust bought a new position in Solventum during the fourth quarter valued at $32,000. Finally, Colonial Trust Co SC grew 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 worth $34,000 after buying an additional 361 shares in the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the topic of several recent research reports. Mizuho upped their target price 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. Morgan Stanley raised their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. Bank of America boosted their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective 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. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and increased their target price for the company from $78.00 to $87.00 in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $80.29.

Solventum Trading Up 0.6%

SOLV stock traded up $0.43 during trading on Friday, hitting $73.04. The company had a trading volume of 4,073,029 shares, compared to its average volume of 1,253,080. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a 50 day simple moving average of $69.48 and a 200-day simple moving average of $71.27. The firm has a market capitalization of $12.64 billion and a P/E ratio of 33.81. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping 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 business'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. As a group, research analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal 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.