Sequoia Financial Advisors LLC Purchases 441 Shares of Solventum Co. (NYSE:SOLV)

Sequoia Financial Advisors LLC boosted its position in shares of Solventum Co. (NYSE:SOLV) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,737 shares of the company’s stock after purchasing an additional 441 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Solventum were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Copeland Capital Management LLC bought a new stake in shares of Solventum in the third quarter valued at about $26,000. Mather Group LLC. bought a new stake in shares of Solventum in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Solventum in the 1st quarter worth approximately $30,000. Hollencrest Capital Management bought a new position in shares of Solventum during the second quarter valued at approximately $25,000. Finally, Deseret Mutual Benefit Administrators purchased a new position in Solventum during the second quarter valued at approximately $25,000.

Solventum Stock Down 0.0 %

Shares of Solventum stock opened at $73.19 on Monday. 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. The stock’s 50 day simple moving average is $67.58 and its 200-day simple moving average is $61.26.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SOLV shares. Morgan Stanley lowered their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. The Goldman Sachs Group upped their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Piper Sandler initiated coverage on Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price on the stock. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. One research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.33.

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.