Canvas Wealth Advisors LLC Has $902,000 Position in Solventum Co. (NYSE:SOLV)

Canvas Wealth Advisors LLC cut its position in Solventum Co. (NYSE:SOLV) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,654 shares of the company’s stock after selling 971 shares during the period. Canvas Wealth Advisors LLC’s holdings in Solventum were worth $902,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SOLV. Modus Advisors LLC bought a new stake in shares of Solventum in the 4th quarter valued at $25,000. Copeland Capital Management LLC bought a new stake in shares of Solventum in the third quarter worth about $26,000. Mather Group LLC. acquired a new stake in shares of Solventum during the third quarter worth about $27,000. Crews Bank & Trust acquired a new stake in shares of Solventum during the fourth quarter worth about $32,000. Finally, True Wealth Design LLC lifted its holdings in shares of Solventum by 23,550.0% during the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after purchasing an additional 471 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently 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 note on Monday, November 11th. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho assumed coverage on shares of Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Solventum has an average rating of “Hold” and an average price target of $68.29.

Solventum Stock Performance

Shares of SOLV opened at $73.43 on Monday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The firm has a fifty day simple moving average of $70.40 and a 200 day simple moving average of $68.02. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

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

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.