Stratos Wealth Partners LTD. Has $324,000 Position in Solventum Corporation (NYSE:SOLV)

Stratos Wealth Partners LTD. trimmed its stake in Solventum Corporation (NYSE:SOLV) by 50.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,256 shares of the company’s stock after selling 4,355 shares during the period. Stratos Wealth Partners LTD.’s holdings in Solventum were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SOLV. Proficio Capital Partners LLC purchased a new position in shares of Solventum in the fourth quarter valued at $1,545,000. Raymond James Financial Inc. bought a new stake in shares of Solventum during the 4th quarter valued at $18,583,000. Sequoia Financial Advisors LLC raised its stake in shares of Solventum by 27.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,317 shares of the company’s stock valued at $483,000 after purchasing an additional 1,580 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of Solventum by 2.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after purchasing an additional 192 shares during the period.

Analysts Set New Price Targets

SOLV has been the subject of a number of recent research reports. Morgan Stanley raised Solventum from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $80.00 to $103.00 in a research note on Tuesday. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and upped their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Finally, KeyCorp began coverage on Solventum in a research report on Friday, June 6th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.38.

Solventum Trading Down 0.5%

Shares of SOLV stock opened at $73.69 on Wednesday. The firm has a market capitalization of $12.75 billion, a PE ratio of 34.11, a PEG ratio of 1.90 and a beta of 0.55. The stock has a fifty day simple moving average of $73.84 and a two-hundred day simple moving average of $72.56. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (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 the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. On average, analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal year.

About Solventum

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.