Busey Bank Lowers Stake in Solventum Co. (NYSE:SOLV)

Busey Bank lowered its holdings in shares of Solventum Co. (NYSE:SOLV) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,720 shares of the company’s stock after selling 835 shares during the period. Busey Bank’s holdings in Solventum were worth $246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after purchasing an additional 161 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Solventum by 3.2% in the third quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after buying an additional 168 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Solventum by 4.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock valued at $346,000 after buying an additional 200 shares during the last quarter. IVC Wealth Advisors LLC increased its position in shares of Solventum by 5.0% during the third quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock valued at $464,000 after acquiring an additional 318 shares in the last quarter. Finally, KKM Financial LLC raised its holdings in Solventum by 7.9% in the 3rd quarter. KKM Financial LLC now owns 4,367 shares of the company’s stock worth $304,000 after acquiring an additional 319 shares during the last quarter.

Solventum Trading Up 1.0 %

NYSE SOLV opened at $75.21 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a 50-day moving average price of $70.00 and a 200-day moving average price of $66.98. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. As a group, analysts predict that Solventum Co. will post 6.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Mizuho initiated coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective for the company. Piper Sandler upped their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.29.

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.