Applied Finance Capital Management LLC Invests $324,000 in Solventum Corporation (NYSE:SOLV)

Key Points

• Applied Finance Capital Management LLC acquired 4,266 shares of Solventum Corporation (NYSE:SOLV) during the first quarter, valued at approximately $324,000.
• Several institutional investors have increased their stakes in Solventum, with Thrivent Financial raising its stake by 37.9% and Vanguard Group now owning over 16 million shares.
• Wall Street analysts are optimistic about Solventum's growth, with analysts upgrading their ratings and setting price targets between $87.00 and $103.00.

Applied Finance Capital Management LLC purchased a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,266 shares of the company's stock, valued at approximately $324,000.

Other hedge funds have also recently made changes to their positions in the company. Clarity Asset Management Inc. bought a new stake in shares of Solventum in the 4th quarter valued at approximately $25,000. Rossby Financial LCC purchased a new position in Solventum during the 1st quarter worth $25,000. Raiffeisen Bank International AG acquired a new position in Solventum in the 4th quarter worth about $29,000. Colonial Trust Co SC raised its holdings in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after purchasing an additional 361 shares during the period. Finally, Hara Capital LLC acquired a new position in Solventum in the 1st quarter worth about $38,000.

Solventum Trading Down 0.0%

SOLV stock traded down $0.01 during trading on Wednesday, reaching $73.54. 79,486 shares of the stock traded hands, compared to its average volume of 1,043,580. The business's 50 day moving average price is $74.17 and its 200-day moving average price is $72.99. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. Solventum Corporation has a 52-week low of $54.26 and a 52-week high of $85.92. The firm has a market capitalization of $12.72 billion, a PE ratio of 34.04, a P/E/G ratio of 1.89 and a beta of 0.55.

Solventum (NYSE:SOLV - Get Free Report) last announced 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. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. As a group, sell-side analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current year.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of analyst reports. KeyCorp started coverage on Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Finally, Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $80.00 to $103.00 in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Solventum currently has an average rating of "Hold" and an average price target of $84.38.

About Solventum

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.