Moloney Securities Asset Management LLC Sells 2,084 Shares of Solventum Co. (NYSE:SOLV)

Moloney Securities Asset Management LLC decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 28.3% during the third quarter, HoldingsChannel reports. The fund owned 5,283 shares of the company’s stock after selling 2,084 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Solventum were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter worth $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Solventum in the first quarter worth about $209,000. LRI Investments LLC bought a new position in Solventum in the first quarter worth about $43,000. Magnetar Financial LLC bought a new position in Solventum in the first quarter worth about $3,478,000. Finally, Alpine Global Management LLC bought a new position in Solventum in the first quarter worth about $1,766,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SOLV shares. BTIG Research started coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research started coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.33.

Solventum Stock Performance

Shares of SOLV stock opened at $74.14 on Thursday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The firm has a fifty day moving average price of $69.67 and a 200-day moving average price of $61.86. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

Solventum (NYSE:SOLV) last issued its quarterly 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current year.

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.