Solventum Co. (NYSE:SOLV) Shares Sold by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC cut its position in Solventum Co. (NYSE:SOLV) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new stake in Solventum in the 2nd quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in shares of Solventum in the second quarter valued at approximately $25,000. Partnership Wealth Management LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC purchased a new position in Solventum during the second quarter worth approximately $26,000. Finally, Family Firm Inc. acquired a new position in Solventum during the second quarter worth $26,000.

Solventum Trading Up 1.3 %

Shares of NYSE SOLV opened at $75.07 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The business’s 50 day moving average is $69.67 and its two-hundred day moving average is $61.86. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. 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 boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday. Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.00.

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.