Allianz Asset Management GmbH Cuts Position in Solventum Corporation (NYSE:SOLV)

Key Points

• Allianz Asset Management GmbH reduced its stake in Solventum Corporation by 72.9%, owning 17,998 shares after selling 48,417 shares in the first quarter, valuing its holdings at $1,369,000.
• Institutional investors such as Trian Fund Management and Independent Franchise Partners increased their stakes in Solventum by 18.8% and 105.0% respectively, indicating significant market interest.
• Solventum received various upgrades from analysts, with Morgan Stanley raising the target price from $80.00 to $103.00, reflecting a positive outlook for the stock.

Allianz Asset Management GmbH cut its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 72.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,998 shares of the company's stock after selling 48,417 shares during the quarter. Allianz Asset Management GmbH's holdings in Solventum were worth $1,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trian Fund Management L.P. grew its stake in Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after buying an additional 1,336,564 shares during the last quarter. Geode Capital Management LLC grew its stake in Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after buying an additional 112,686 shares during the last quarter. Invesco Ltd. grew its stake in Solventum by 6.4% during the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after buying an additional 176,201 shares during the last quarter. Northern Trust Corp grew its stake in Solventum by 21.5% during the 4th quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock worth $115,559,000 after buying an additional 309,077 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its stake in Solventum by 105.0% during the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after buying an additional 821,272 shares during the last quarter.

Wall Street Analyst Weigh In

SOLV has been the topic of several research analyst reports. KeyCorp initiated coverage on Solventum in a research note on Friday, June 6th. They set a "sector weight" rating on the stock. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.38.

Solventum Stock Performance

Shares of SOLV stock opened at $71.35 on Friday. The stock has a market cap of $12.34 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.87 and a beta of 0.55. The business has a 50-day simple moving average of $74.15 and a 200-day simple moving average of $73.01. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 52-week low of $54.26 and a 52-week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. On average, equities analysts expect 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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