Wesbanco Bank Inc. Decreases Holdings in Solventum Co. (NYSE:SOLV)

Wesbanco Bank Inc. trimmed its stake in Solventum Co. (NYSE:SOLV) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,485 shares of the company’s stock after selling 929 shares during the quarter. Wesbanco Bank Inc.’s holdings in Solventum were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trian Fund Management L.P. lifted its holdings in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares during the last quarter. State Street Corp raised its position in shares of Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the period. Geode Capital Management LLC lifted its stake in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after buying an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Solventum in the 3rd quarter worth approximately $125,488,000. Finally, AQR Capital Management LLC purchased a new position in Solventum in the 2nd quarter valued at approximately $62,617,000.

Solventum Stock Performance

Shares of SOLV opened at $74.93 on Friday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock has a 50-day moving average price of $69.41 and a 200-day moving average price of $66.13.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Equities analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SOLV. Morgan Stanley increased their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Finally, Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $68.29.

Solventum 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.