HM Payson & Co. Decreases Stake in Solventum Co. (NYSE:SOLV)

HM Payson & Co. cut its position in Solventum Co. (NYSE:SOLV) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,755 shares of the company’s stock after selling 1,238 shares during the period. HM Payson & Co.’s holdings in Solventum were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SOLV. Fifth Lane Capital LP acquired a new stake in shares of Solventum during the 1st quarter worth about $826,000. Boit C F David acquired a new stake in Solventum during the first quarter worth approximately $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Solventum during the first quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Solventum during the 1st quarter worth approximately $209,000. Finally, LRI Investments LLC acquired a new position in shares of Solventum in the 1st quarter valued at $43,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SOLV. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wolfe Research assumed coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Solventum currently has a consensus rating of “Hold” and an average price target of $64.33.

Solventum Stock Performance

Solventum stock opened at $72.46 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The business has a 50 day simple moving average of $68.90 and a 200-day simple moving average of $61.64. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Solventum Co. will post 6.38 EPS for the current year.

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.