Merit Financial Group LLC Has $227,000 Stake in Solventum Co. (NYSE:SOLV)

Merit Financial Group LLC lowered its position in Solventum Co. (NYSE:SOLV) by 16.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,989 shares of the company’s stock after selling 575 shares during the period. Merit Financial Group LLC’s holdings in Solventum were worth $227,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SOLV. Clarity Asset Management Inc. acquired a new position in shares of Solventum during the 4th quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Solventum during the 4th quarter valued at $26,000. Raiffeisen Bank International AG acquired a new position in shares of Solventum during the 4th quarter valued at $29,000. Colonial Trust Co SC lifted its position in shares of Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock valued at $34,000 after acquiring an additional 361 shares during the period. Finally, Banque Transatlantique SA acquired a new position in shares of Solventum during the 4th quarter valued at $42,000.

Solventum Stock Down 0.3%

SOLV stock opened at $74.15 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company’s 50 day moving average is $69.77 and its 200 day moving average is $71.64. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. Sell-side analysts predict that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SOLV. KeyCorp began coverage on shares of Solventum in a research note on Friday, June 6th. They set a “sector weight” rating for the company. Mizuho upped their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Wells Fargo & Company boosted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. The Goldman Sachs Group boosted their price target 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, Bank of America upped their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.