American Century Companies Inc. Sells 26,960 Shares of Solventum Corporation $SOLV

Key Points

• American Century Companies Inc. has reduced its stake in Solventum Corporation by 18.4%, selling 26,960 shares and now owning around 119,648 shares valued at approximately $9.1 million.
• Solventum's latest quarterly earnings report showed an EPS of $1.69, exceeding analysts' expectations, and revenue increased by 3.8% compared to the previous year.
• Analysts have set varied price targets for Solventum, with Piper Sandler increasing its target to $94.00 while Morgan Stanley raised theirs to $103.00, reflecting positive sentiment around the stock.

American Century Companies Inc. decreased its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 18.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,648 shares of the company's stock after selling 26,960 shares during the quarter. American Century Companies Inc. owned about 0.07% of Solventum worth $9,098,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SOLV. Clarity Asset Management Inc. bought a new position in Solventum during the 4th quarter worth approximately $25,000. Rossby Financial LCC bought a new position in Solventum during the 1st quarter worth approximately $25,000. Strengthening Families & Communities LLC boosted its stake in Solventum by 376.8% during the 1st quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after acquiring an additional 260 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Solventum during the 4th quarter worth approximately $29,000. Finally, Colonial Trust Co SC boosted its stake in Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after acquiring an additional 361 shares during the last quarter.

Solventum Price Performance

NYSE SOLV opened at $72.88 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. Solventum Corporation has a 12-month low of $59.35 and a 12-month high of $85.92. The company has a market capitalization of $12.64 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.76 and a beta of 0.52. The firm's 50 day moving average is $73.76 and its 200-day moving average is $72.84.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the company earned $1.56 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and set a $94.00 price objective (up previously from $87.00) on shares of Solventum in a research note on Friday, August 8th. Wells Fargo & Company lifted their price target on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. KeyCorp began coverage on shares of Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. Wall Street Zen lowered shares of Solventum from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $85.75.

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.

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