Solventum Corporation (NYSE:SOLV) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in shares of Solventum Corporation (NYSE:SOLV) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,244 shares of the company’s stock after selling 2,391 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Solventum were worth $2,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SOLV. New York Life Investment Management LLC lifted its stake in Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock worth $1,223,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Solventum by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company’s stock worth $71,000 after buying an additional 171 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Solventum by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock worth $348,000 after buying an additional 181 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter.

Solventum Stock Performance

Shares of SOLV stock opened at $74.95 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. The firm has a market cap of $12.97 billion, a P/E ratio of 34.70, a P/E/G ratio of 1.88 and a beta of 0.54. The firm’s 50 day moving average price is $70.95 and its 200-day moving average price is $71.77. Solventum Corporation has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. As a group, equities research analysts predict that Solventum Corporation will post 6.58 EPS for the current year.

Analysts Set New Price Targets

SOLV has been the topic of several analyst reports. KeyCorp started coverage on Solventum in a report on Friday, June 6th. They set a “sector weight” rating on the stock. Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. The Goldman Sachs Group boosted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Mizuho raised their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company upped their price objective on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently 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.