Baxter Bros Inc. Trims Position in Solventum Co. (NYSE:SOLV)

Baxter Bros Inc. cut its position in Solventum Co. (NYSE:SOLV) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,193 shares of the company’s stock after selling 578 shares during the period. Baxter Bros Inc.’s holdings in Solventum were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SOLV. The Goldman Sachs Group upped their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Piper Sandler initiated coverage on shares of Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus target price of $64.33.

Solventum Trading Down 0.2 %

Solventum stock opened at $72.46 on Friday. The firm has a 50-day moving average price of $68.90 and a 200-day moving average price of $61.64. 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 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 earnings per share (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 the consensus estimate of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. Research analysts expect that Solventum Co. will post 6.38 EPS for the current 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.