34,716 Shares in Solventum Co. (NYSE:SOLV) Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Solventum Co. (NYSE:SOLV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,716 shares of the company's stock, valued at approximately $2,293,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New York Life Investment Management LLC grew its stake in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Solventum by 2.1% during the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after acquiring an additional 161 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after purchasing an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Solventum by 48.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares in the last quarter. Finally, Savant Capital LLC lifted its position in shares of Solventum by 6.3% during the fourth quarter. Savant Capital LLC now owns 3,914 shares of the company's stock worth $259,000 after purchasing an additional 233 shares during the last quarter.

Solventum Stock Up 5.4 %

NYSE SOLV traded up $3.59 on Friday, reaching $70.22. The company had a trading volume of 1,801,632 shares, compared to its average volume of 1,274,911. 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 firm has a market capitalization of $12.15 billion and a price-to-earnings ratio of 25.53. The company's fifty day moving average is $70.34 and its 200-day moving average is $71.30. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SOLV shares. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Piper Sandler dropped their price target on Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Solventum presently has an average rating of "Hold" and an average 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.