Trust Co. of Vermont Sells 363 Shares of Solventum Co. (NYSE:SOLV)

Trust Co. of Vermont cut its stake in Solventum Co. (NYSE:SOLV) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,793 shares of the company’s stock after selling 363 shares during the quarter. Trust Co. of Vermont’s holdings in Solventum were worth $1,101,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SOLV. QV Investors Inc. lifted its position in Solventum by 59.4% during the third quarter. QV Investors Inc. now owns 250,562 shares of the company’s stock valued at $17,469,000 after acquiring an additional 93,370 shares during the last quarter. HTLF Bank acquired a new position in shares of Solventum during the third quarter worth $222,000. Swedbank AB lifted its holdings in shares of Solventum by 20.3% during the 3rd quarter. Swedbank AB now owns 107,197 shares of the company’s stock valued at $7,474,000 after purchasing an additional 18,108 shares during the last quarter. Washington Capital Management Inc. boosted its position in shares of Solventum by 83.7% in the 3rd quarter. Washington Capital Management Inc. now owns 9,000 shares of the company’s stock worth $627,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Solventum during the 3rd quarter worth $4,894,000.

Solventum Trading Up 1.8 %

NYSE SOLV opened at $73.68 on Friday. The stock has a 50-day simple moving average of $66.13 and a two-hundred day simple moving average of $61.10. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last announced 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 revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOLV. Argus started coverage on Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. Wells Fargo & Company dropped their target price 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. Wolfe Research assumed coverage on shares of Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Solventum presently has a consensus rating of “Hold” and an average price target of $64.33.

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.