Pacer Advisors Inc. Trims Holdings in Solventum Co. (NYSE:SOLV)

Pacer Advisors Inc. decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 32.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,198 shares of the company’s stock after selling 5,468 shares during the quarter. Pacer Advisors Inc.’s holdings in Solventum were worth $740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Sei Investments Co. acquired a new position in Solventum during the 2nd quarter worth $1,436,000. Thrivent Financial for Lutherans acquired a new position in Solventum in the 2nd quarter valued at about $524,000. The Manufacturers Life Insurance Company acquired a new position in Solventum during the 2nd quarter worth approximately $4,537,000. Creative Planning acquired a new position in Solventum during the 2nd quarter worth approximately $1,584,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Solventum in the 2nd quarter valued at approximately $568,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Solventum presently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Stock Performance

NYSE SOLV opened at $73.57 on Tuesday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a 50 day moving average of $70.17 and a 200-day moving average of $67.43.

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