Focus Partners Wealth Has $1.63 Million Stock Position in Solventum Co. (NYSE:SOLV)

Focus Partners Wealth lessened its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,638 shares of the company's stock after selling 3,660 shares during the period. Focus Partners Wealth's holdings in Solventum were worth $1,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Clarity Asset Management Inc. acquired a new stake in Solventum in the fourth quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the 4th quarter worth about $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum in the 4th quarter valued at about $32,000. Colonial Trust Co SC lifted its position in shares of Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after purchasing an additional 361 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Solventum during the fourth quarter worth about $35,000.

Solventum Stock Performance

Shares of SOLV traded down $1.10 during trading hours on Tuesday, reaching $74.67. 821,579 shares of the company traded hands, compared to its average volume of 1,246,486. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock's fifty day moving average is $69.83 and its 200 day moving average is $71.28. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The stock has a market cap of $12.92 billion and a P/E ratio of 34.57.

Solventum (NYSE:SOLV - Get Free Report) last announced 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 business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.08 EPS. Equities research analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of research reports. 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 report on Monday, March 3rd. Wells Fargo & Company increased their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $78.00 to $87.00 in a report on Monday. Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Bank of America boosted 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Company 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.