IVC Wealth Advisors LLC Grows Stock Position in Solventum Co. (NYSE:SOLV)

IVC Wealth Advisors LLC increased its position in shares of Solventum Co. (NYSE:SOLV) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,243 shares of the company’s stock after purchasing an additional 594 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Solventum were worth $478,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC lifted its holdings in shares of Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Solventum by 24.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after buying an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after purchasing an additional 32,051 shares during the last quarter. State Street Corp boosted its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after acquiring an additional 185,938 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Solventum during the 3rd quarter worth approximately $50,948,000.

Solventum Trading Down 0.1 %

Shares of SOLV stock opened at $73.59 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a 50 day moving average price of $69.30 and a 200 day moving average price of $66.08.

Solventum (NYSE:SOLV) last released 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 during the quarter, compared to analyst estimates of $2.05 billion. Analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SOLV. Piper Sandler lifted their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Mizuho assumed coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Stifel Nicolaus started coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus price target of $68.29.

Solventum Company 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.