Signaturefd LLC Sells 631 Shares of Solventum Co. (NYSE:SOLV)

Signaturefd LLC trimmed its holdings in shares of Solventum Co. (NYSE:SOLV) by 55.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511 shares of the company’s stock after selling 631 shares during the period. Signaturefd LLC’s holdings in Solventum were worth $36,000 at the end of the most recent quarter.

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

Solventum Trading Up 0.3 %

NYSE:SOLV opened at $73.57 on Thursday. The firm’s 50 day moving average is $68.42 and its 200 day moving average is $61.49. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping 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. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts expect that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOLV has been the topic of several recent research reports. Piper Sandler began coverage on Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective on the stock. BTIG Research initiated coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Morgan Stanley decreased their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Finally, Wolfe Research initiated coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.33.

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.