Corundum Group Inc. Lowers Holdings in Solventum Co. (NYSE:SOLV)

Corundum Group Inc. lowered its position in shares of Solventum Co. (NYSE:SOLV) by 50.2% in the third quarter, Holdings Channel reports. The institutional investor owned 11,764 shares of the company’s stock after selling 11,835 shares during the period. Corundum Group Inc.’s holdings in Solventum were worth $820,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SOLV. Blue Trust Inc. purchased a new position in shares of Solventum in the 3rd quarter valued at about $538,000. QV Investors Inc. raised its holdings in Solventum by 59.4% during the third quarter. QV Investors Inc. now owns 250,562 shares of the company’s stock worth $17,469,000 after purchasing an additional 93,370 shares during the last quarter. HTLF Bank purchased a new stake in shares of Solventum in the 3rd quarter worth about $222,000. Swedbank AB lifted its holdings in shares of Solventum by 20.3% in the third quarter. Swedbank AB now owns 107,197 shares of the company’s stock valued at $7,474,000 after purchasing an additional 18,108 shares in the last quarter. Finally, Washington Capital Management Inc. raised its position in shares of Solventum by 83.7% during the 3rd quarter. Washington Capital Management Inc. now owns 9,000 shares of the company’s stock worth $627,000 after purchasing an additional 4,100 shares during the last quarter.

Solventum Stock Up 1.8 %

Shares of Solventum stock opened at $73.68 on Monday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The business has a 50-day moving average of $66.13 and a 200-day moving average of $61.04.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Solventum Co. will post 6.38 EPS for the current year.

Analyst Ratings Changes

SOLV has been the topic of a number of recent research reports. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating on the stock. Wells Fargo & Company decreased their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Piper Sandler initiated coverage on shares of Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price for the company. BTIG Research initiated coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.33.

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.