4,697 Shares in Solventum Corporation (NYSE:SOLV) Acquired by Hikari Power Ltd

Hikari Power Ltd acquired a new stake in Solventum Corporation (NYSE:SOLV - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,697 shares of the company's stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Solventum during the fourth quarter worth $18,583,000. Victory Capital Management Inc. boosted its position in shares of Solventum by 26.2% during the 4th quarter. Victory Capital Management Inc. now owns 67,654 shares of the company's stock worth $4,469,000 after acquiring an additional 14,065 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Solventum by 140.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock valued at $139,000 after acquiring an additional 1,064 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings 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 acquiring an additional 192 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Solventum by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 171,376 shares of the company's stock worth $11,321,000 after purchasing an additional 1,761 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $78.00 to $87.00 in a research note on Monday, May 19th. Mizuho raised their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group upped their target price on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Performance

Shares of SOLV stock opened at $74.72 on Friday. The stock's 50-day moving average price is $71.30 and its 200 day moving average price is $71.82. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $12.93 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates 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. As a group, equities research analysts forecast that Solventum Corporation will post 6.58 EPS for the current 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.

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