Pacer Advisors Inc. Has $740,000 Stock Holdings in Solventum Co. (NYSE:SOLV)

Pacer Advisors Inc. decreased its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 32.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,198 shares of the company's stock after selling 5,468 shares during the quarter. Pacer Advisors Inc.'s holdings in Solventum were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. bought a new position in shares of Solventum in the 2nd quarter valued at about $1,436,000. Thrivent Financial for Lutherans acquired a new position in Solventum during the second quarter worth approximately $524,000. The Manufacturers Life Insurance Company bought a new stake in Solventum in the second quarter valued at approximately $4,537,000. Creative Planning acquired a new stake in shares of Solventum in the second quarter valued at approximately $1,584,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Solventum during the 2nd quarter worth approximately $568,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho initiated coverage on Solventum in a report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price target for the company. Piper Sandler raised their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, Morgan Stanley upped their price target on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. One equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $68.29.

Solventum Stock Down 1.8 %

Shares of NYSE SOLV traded down $1.35 during trading hours on Friday, hitting $73.43. 859,465 shares of the stock were exchanged, compared to its average volume of 970,471. The company's fifty day simple moving average is $70.36 and its two-hundred day simple moving average is $67.80. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal year.

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.