Global Trust Asset Management LLC Increases Holdings in Solventum Co. (NYSE:SOLV)

Global Trust Asset Management LLC boosted its stake in Solventum Co. (NYSE:SOLV) by 137.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 570 shares of the company’s stock after acquiring an additional 330 shares during the period. Global Trust Asset Management LLC’s holdings in Solventum were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SOLV. American Century Companies Inc. purchased a new position in shares of Solventum during the second quarter valued at about $6,699,000. Envestnet Asset Management Inc. bought a new stake in Solventum during the 2nd quarter valued at approximately $6,747,000. Dimensional Fund Advisors LP purchased a new position in shares of Solventum during the 2nd quarter worth approximately $26,480,000. Mutual of America Capital Management LLC bought a new position in shares of Solventum in the 2nd quarter worth approximately $920,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Solventum in the 2nd quarter valued at approximately $730,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $73.68 on Thursday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a 50 day moving average of $69.22 and a 200 day moving average of $66.02.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. As a group, equities research analysts predict that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SOLV shares. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.29.

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.