Hikari Power Ltd Takes $357,000 Position in Solventum Corporation (NYSE:SOLV)

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

A number of other institutional investors also recently bought and sold shares of SOLV. Principal Financial Group Inc. increased its stake in Solventum by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 171,376 shares of the company's stock valued at $11,321,000 after purchasing an additional 1,761 shares during the period. Bank of New York Mellon Corp increased its stake in Solventum by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 943,699 shares of the company's stock valued at $62,341,000 after purchasing an additional 36,907 shares during the period. Apriem Advisors acquired a new position in Solventum in the fourth quarter valued at $333,000. New York Life Investment Management LLC increased its stake in Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after purchasing an additional 136 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Solventum in the fourth quarter valued at $1,545,000.

Solventum Price Performance

SOLV stock traded up $0.35 during trading on Monday, reaching $75.81. 750,457 shares of the company were exchanged, compared to its average volume of 1,127,882. The company has a market cap of $13.12 billion, a P/E ratio of 35.10, a PEG ratio of 1.93 and a beta of 0.54. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92. The stock's 50 day moving average price is $71.72 and its 200 day moving average price is $71.93. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $2.08 earnings per share. As a group, analysts predict that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.