Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 4,030 Solventum Corporation (NYSE:SOLV)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,030 shares of the company's stock, valued at approximately $306,000.

Other large investors have also added to or reduced their stakes in the company. Clarity Asset Management Inc. purchased a new stake in Solventum during the 4th quarter valued at about $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum in the fourth quarter worth about $29,000. Colonial Trust Co SC boosted its stake in shares of Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after buying an additional 361 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Solventum in the fourth quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Solventum by 48.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after buying an additional 223 shares during the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the topic of a number of recent research reports. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. The Goldman Sachs Group upped their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. KeyCorp initiated coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Solventum presently has a consensus rating of "Hold" and a consensus price target of $80.29.

Solventum Price Performance

NYSE SOLV traded up $0.75 during trading hours on Friday, reaching $75.38. The company's stock had a trading volume of 1,036,115 shares, compared to its average volume of 1,129,377. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 1.93 and a beta of 0.54. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. The company's 50-day moving average is $71.48 and its two-hundred day moving average is $71.89.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. Solventum's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Solventum Corporation will post 6.58 EPS for the current 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.