Solventum Co. (NYSE:SOLV) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,874 shares of the company's stock after purchasing an additional 9,776 shares during the period. Ameriprise Financial Inc.'s holdings in Solventum were worth $5,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Solventum during the 4th quarter valued at approximately $203,740,000. Boston Partners acquired a new position in shares of Solventum during the fourth quarter valued at about $110,378,000. Independent Franchise Partners LLP boosted its holdings in Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after acquiring an additional 821,272 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Solventum by 41.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after purchasing an additional 347,669 shares during the period. Finally, Candlestick Capital Management LP increased its holdings in Solventum by 67.7% during the 4th quarter. Candlestick Capital Management LP now owns 802,606 shares of the company's stock worth $53,020,000 after purchasing an additional 323,920 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on SOLV shares. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Bank of America upped their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Mizuho raised their price target on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $80.29.

Solventum Trading Up 2.4%

Solventum stock traded up $1.68 during midday trading on Tuesday, reaching $72.49. The stock had a trading volume of 794,932 shares, compared to its average volume of 1,244,979. The firm has a market cap of $12.54 billion and a price-to-earnings ratio of 33.56. The company has a fifty day moving average of $69.60 and a 200 day moving average of $71.25. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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 the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

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.