J.P. Marvel Investment Advisors LLC Decreases Stock Position in Solventum Co. (NYSE:SOLV)

J.P. Marvel Investment Advisors LLC decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 8.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,779 shares of the company’s stock after selling 1,009 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Solventum were worth $752,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SOLV. National Bank of Canada FI grew its stake in Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after purchasing an additional 236 shares during the last quarter. IVC Wealth Advisors LLC lifted its holdings in shares of Solventum by 5.0% during the third quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock worth $464,000 after purchasing an additional 318 shares during the period. Copeland Capital Management LLC purchased a new stake in Solventum in the third quarter valued at approximately $26,000. Mather Group LLC. purchased a new stake in Solventum in the third quarter valued at approximately $27,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Solventum by 64.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock worth $75,000 after buying an additional 422 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SOLV. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. BTIG Research assumed coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Piper Sandler increased their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group boosted their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company dropped their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.00.

Solventum Stock Performance

Shares of SOLV stock opened at $75.07 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 business’s 50 day moving average is $69.67 and its two-hundred day moving average is $61.86.

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