Solventum Co. (NYSE:SOLV) Sees Significant Decline in Short Interest

Solventum Co. (NYSE:SOLV) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 5,280,000 shares, a drop of 17.8% from the July 31st total of 6,420,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 3.2 days.

Institutional Trading of Solventum

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SOLV shares. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Argus started coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Bank of America lowered their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company decreased their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.25.

Solventum Trading Up 1.9 %

SOLV opened at $64.12 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average price of $55.37. Solventum has a 12-month low of $47.16 and a 12-month high of $96.05.

Solventum (NYSE:SOLV) last issued 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 business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. Research analysts forecast that Solventum will post 6.4 earnings per share for the current fiscal year.

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.