Ameriprise Financial Inc. Has $5.02 Million Position in Solventum Co. (NYSE:SOLV)

Ameriprise Financial Inc. raised its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,874 shares of the company's stock after buying 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 SEC filing.

Other large investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Solventum during the 4th quarter valued at about $26,000. Crews Bank & Trust acquired a new position in Solventum during the 4th quarter valued at about $32,000. Synergy Asset Management LLC acquired a new position in Solventum during the 4th quarter valued at about $35,000. Spire Wealth Management acquired a new position in shares of Solventum in the 4th quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after purchasing an additional 223 shares during the last quarter.

Solventum Trading Down 0.1%

Shares of SOLV traded down $0.08 during midday trading on Thursday, hitting $72.55. The stock had a trading volume of 970,137 shares, compared to its average volume of 1,241,802. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The business has a 50-day simple moving average of $69.48 and a two-hundred day simple moving average of $71.27. The firm has a market cap of $12.55 billion and a P/E ratio of 33.59. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Solventum Co. will post 6.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Bank of America lifted their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Mizuho lifted their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Solventum has a consensus rating of "Hold" and a consensus price target of $80.29.

About Solventum

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.