ST Germain D J Co. Inc. Sells 221 Shares of Solventum Co. (NYSE:SOLV)

ST Germain D J Co. Inc. trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,547 shares of the company’s stock after selling 221 shares during the period. ST Germain D J Co. Inc.’s holdings in Solventum were worth $108,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Davis Selected Advisers purchased a new position in shares of Solventum during the second quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new position in Solventum in the 2nd quarter worth $115,829,000. Newport Trust Company LLC bought a new stake in Solventum in the second quarter worth $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum during the second quarter valued at about $96,242,000. Finally, Magnetar Financial LLC grew its stake in shares of Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SOLV. Morgan Stanley dropped their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research began coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.33.

Solventum Stock Up 1.8 %

NYSE:SOLV opened at $73.68 on Friday. The company’s 50-day simple moving average is $66.13 and its 200-day simple moving average is $61.06. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last released its 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 analyst estimates of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Solventum Co. will post 6.38 EPS 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.