Kanawha Capital Management LLC Lowers Holdings in Solventum Co. (NYSE:SOLV)

Kanawha Capital Management LLC reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 34.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,688 shares of the company’s stock after selling 2,486 shares during the period. Kanawha Capital Management LLC’s holdings in Solventum were worth $327,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley cut their price objective 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. The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target 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 report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $64.33.

Solventum Trading Down 0.4 %

Solventum stock opened at $72.17 on Tuesday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The firm’s 50 day moving average price is $69.14 and its two-hundred day moving average price is $61.70.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. On average, 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.