Achmea Investment Management B.V. Purchases 4,653 Shares of Solventum Corporation (NYSE:SOLV)

Achmea Investment Management B.V. lifted its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 28.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,985 shares of the company's stock after acquiring an additional 4,653 shares during the period. Achmea Investment Management B.V.'s holdings in Solventum were worth $1,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC increased its position in Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares during the period. Perigon Wealth Management LLC raised its holdings in Solventum by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock valued at $331,000 after acquiring an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Solventum by 22.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock worth $71,000 after acquiring an additional 171 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Solventum by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock worth $348,000 after purchasing an additional 181 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Solventum by 22.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 1,038 shares of the company's stock worth $79,000 after purchasing an additional 187 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective 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. KeyCorp initiated coverage on shares of Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.50.

Solventum Price Performance

NYSE SOLV traded up $0.09 during trading hours on Wednesday, reaching $77.98. 347,786 shares of the company's stock were exchanged, compared to its average volume of 1,123,792. The firm has a fifty day moving average of $71.98 and a 200-day moving average of $71.97. Solventum Corporation has a one year low of $47.16 and a one year high of $85.92. The stock has a market cap of $13.49 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.55. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Solventum Corporation will post 6.58 earnings per share 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.