Allspring Global Investments Holdings LLC Decreases Stake in Solventum Co. (NYSE:SOLV)

Allspring Global Investments Holdings LLC reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 94.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,751 shares of the company’s stock after selling 188,372 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Solventum were worth $819,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. National Bank of Canada FI grew its position in Solventum by 4.0% during the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after buying an additional 236 shares during the period. Mather Group LLC. purchased a new stake in shares of Solventum during the 3rd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its position in Solventum by 64.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock valued at $75,000 after acquiring an additional 422 shares in the last quarter. Lwmg LLC boosted its stake in shares of Solventum by 3.7% in the third quarter. Lwmg LLC now owns 12,401 shares of the company’s stock valued at $865,000 after purchasing an additional 443 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Solventum in the first quarter worth $30,000.

Solventum Stock Down 1.3 %

Shares of NYSE:SOLV opened at $72.59 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company’s fifty day moving average price is $68.68 and its 200 day moving average price is $61.57.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analyst Ratings Changes

SOLV has been the subject of a number of analyst reports. Stifel Nicolaus began coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. Morgan Stanley lowered their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. Piper Sandler began coverage on shares of Solventum in a research note on Monday, October 7th. They set a “neutral” rating and a $71.00 target price for the company. Finally, Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $64.33.

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.