Sowell Financial Services LLC Buys Shares of 4,403 Solventum Corporation (NYSE:SOLV)

Sowell Financial Services LLC purchased a new position in shares of Solventum Corporation (NYSE:SOLV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,403 shares of the company's stock, valued at approximately $335,000.

A number of other institutional investors have also recently added to or reduced their stakes in SOLV. Clarity Asset Management Inc. acquired a new position in shares of Solventum in the 4th quarter valued at approximately $25,000. Raiffeisen Bank International AG bought a new stake in shares of Solventum in the fourth quarter worth $29,000. Colonial Trust Co SC raised its holdings in Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after acquiring an additional 361 shares in the last quarter. Banque Transatlantique SA bought a new position in Solventum during the 4th quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after acquiring an additional 223 shares in the last quarter.

Wall Street Analyst Weigh In

SOLV has been the topic of a number of recent analyst reports. KeyCorp assumed coverage on shares of Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Performance

SOLV traded up $1.70 during trading on Tuesday, reaching $74.95. 826,760 shares of the company were exchanged, compared to its average volume of 1,158,563. Solventum Corporation has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The firm has a 50 day moving average of $70.77 and a 200 day moving average of $71.75. The stock has a market cap of $12.97 billion, a P/E ratio of 34.70, a PEG ratio of 1.88 and a beta of 0.54.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. 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 previous year, the company posted $2.08 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum 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.