Great Waters Wealth Management Sells 329 Shares of Solventum Co. (NYSE:SOLV)

Great Waters Wealth Management reduced its position in Solventum Co. (NYSE:SOLV) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,190 shares of the company’s stock after selling 329 shares during the quarter. Great Waters Wealth Management’s holdings in Solventum were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SOLV. EverSource Wealth Advisors LLC bought a new position in Solventum in the first quarter worth about $30,000. Hollencrest Capital Management bought a new position in Solventum in the second quarter worth about $25,000. Deseret Mutual Benefit Administrators bought a new position in Solventum in the second quarter worth about $25,000. Richard W. Paul & Associates LLC bought a new position in Solventum in the second quarter worth about $26,000. Finally, Family Firm Inc. bought a new position in Solventum in the second quarter worth about $26,000.

Solventum Price Performance

Solventum stock traded up $0.48 during trading on Friday, reaching $67.74. The company had a trading volume of 837,213 shares, compared to its average volume of 1,376,680. The company has a 50-day moving average of $63.81. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. 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 (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several research analyst reports. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. The Goldman Sachs Group increased their price objective 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. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. 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. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.25.

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.