Twinbeech Capital LP Decreases Stock Position in Solventum Co. (NYSE:SOLV)

Twinbeech Capital LP cut its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 69.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,761 shares of the company's stock after selling 140,750 shares during the period. Twinbeech Capital LP's holdings in Solventum were worth $4,080,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SOLV. Clarity Asset Management Inc. bought a new stake in shares of Solventum during the 4th quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the 4th quarter worth $26,000. Raiffeisen Bank International AG bought a new stake in Solventum during the fourth quarter valued at about $29,000. Crews Bank & Trust bought a new stake in Solventum during the fourth quarter valued at about $32,000. Finally, Colonial Trust Co SC lifted its position in shares of Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after acquiring an additional 361 shares in the last quarter.

Solventum Price Performance

SOLV traded down $1.81 during trading hours on Friday, hitting $70.85. The company's stock had a trading volume of 1,119,844 shares, compared to its average volume of 1,246,877. The stock has a market cap of $12.26 billion and a price-to-earnings ratio of 32.80. The business's 50-day moving average price is $69.80 and its 200-day moving average price is $71.32. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12 month low of $47.16 and a 12 month 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 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. Sell-side analysts expect that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several research analyst reports. Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $78.00 to $87.00 in a research note on Monday. Mizuho lifted their price objective 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. The Goldman Sachs Group boosted 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. Finally, Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Solventum presently has an average rating of "Hold" and a consensus 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.