Tidal Investments LLC Sells 10,367 Shares of Solventum Co. (NYSE:SOLV)

Tidal Investments LLC decreased its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 40.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,456 shares of the company's stock after selling 10,367 shares during the quarter. Tidal Investments LLC's holdings in Solventum were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Solventum by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after purchasing an additional 75,631 shares during the period. Geode Capital Management LLC boosted its holdings in Solventum by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock valued at $227,992,000 after purchasing an additional 112,686 shares in the last quarter. Norges Bank purchased a new position in shares of Solventum in the 4th quarter valued at $203,740,000. Invesco Ltd. increased its position in shares of Solventum by 6.4% during the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after purchasing an additional 176,201 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Solventum by 21.5% in the fourth quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock valued at $115,559,000 after buying an additional 309,077 shares during the last quarter.

Analyst Ratings Changes

SOLV has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Morgan Stanley boosted 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 upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Finally, Mizuho upped their price target on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Up 0.2%

Solventum stock traded up $0.13 during trading hours on Friday, hitting $72.74. The company had a trading volume of 331,466 shares, compared to its average volume of 1,238,235. The firm has a market capitalization of $12.59 billion and a P/E ratio of 33.75. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm's fifty day moving average is $69.48 and its 200-day moving average is $71.27.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. On average, research analysts forecast 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.