Solventum Co. (NYSE:SOLV) Stock Position Decreased by Twinbeech Capital LP

Twinbeech Capital LP reduced its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 69.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Clarity Asset Management Inc. acquired a new stake in Solventum during the fourth quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Solventum during the 4th quarter worth about $26,000. Raiffeisen Bank International AG acquired a new stake in Solventum during the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in Solventum during the 4th quarter worth approximately $32,000. Finally, Colonial Trust Co SC raised its holdings in 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 buying an additional 361 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted 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. Morgan Stanley upped their price target 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. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and increased their price target for the company from $78.00 to $87.00 in a report on Monday, May 19th. Bank of America raised their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $80.29.

Solventum Stock Performance

Shares of NYSE SOLV traded down $1.81 during mid-day trading on Monday, hitting $70.85. The company had a trading volume of 1,119,844 shares, compared to its average volume of 1,246,786. The stock has a market cap of $12.26 billion and a price-to-earnings ratio of 32.80. The firm's 50 day simple moving average is $69.71 and its two-hundred day simple moving average is $71.26. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. 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 earnings per share for the quarter, beating the consensus estimate 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. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities 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.