Baird Financial Group Inc. Reduces Stock Holdings in Solventum Co. (NYSE:SOLV)

Baird Financial Group Inc. cut its stake in Solventum Co. (NYSE:SOLV - Free Report) by 43.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,805 shares of the company's stock after selling 17,438 shares during the quarter. Baird Financial Group Inc.'s holdings in Solventum were worth $1,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Solventum during the fourth quarter worth about $203,740,000. Boston Partners bought a new position in shares of Solventum in the fourth quarter valued at $110,378,000. Independent Franchise Partners LLP boosted its holdings in shares of Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after buying an additional 821,272 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Solventum by 41.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after purchasing an additional 347,669 shares during the period. Finally, Candlestick Capital Management LP lifted its stake in Solventum by 67.7% in the 4th quarter. Candlestick Capital Management LP now owns 802,606 shares of the company's stock worth $53,020,000 after acquiring an additional 323,920 shares in the last quarter.

Solventum Trading Up 1.6%

Shares of NYSE SOLV traded up $1.14 during midday trading on Friday, reaching $74.08. The stock had a trading volume of 824,004 shares, compared to its average volume of 1,256,055. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company's 50 day moving average price is $69.83 and its 200 day moving average price is $71.28. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The firm has a market cap of $12.82 billion and a price-to-earnings ratio of 34.30.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Solventum Co. will post 6.58 EPS for the current year.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley increased their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, Piper Sandler decreased their price target on Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.00.

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.