Amundi Purchases 49,964 Shares of Solventum Corporation $SOLV

Key Points

• Amundi increased its Solventum stake by 17.9% in the first quarter, purchasing 49,964 additional shares to hold 329,568 shares valued at approximately $21.5 million.
• Analyst sentiment is mixed but leans positive: seven analysts rate Solventum a Buy, five rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $86.
• Solventum’s latest quarterly results exceeded expectations, with EPS of $1.48 versus the $1.35 consensus and revenue of $2.01 billion, although revenue declined 3% year over year.

Amundi raised its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 329,568 shares of the company's stock after buying an additional 49,964 shares during the period. Amundi owned about 0.19% of Solventum worth $21,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SOLV. Independent Franchise Partners LLP raised its position in Solventum by 19.0% in the 4th quarter. Independent Franchise Partners LLP now owns 15,355,691 shares of the company's stock valued at $1,216,785,000 after purchasing an additional 2,456,451 shares during the last quarter. Norges Bank acquired a new stake in shares of Solventum in the fourth quarter valued at $147,467,000. Diamond Hill Capital Management Inc. increased its stake in shares of Solventum by 152.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,109,027 shares of the company's stock valued at $167,119,000 after buying an additional 1,272,921 shares in the last quarter. Boston Partners raised its holdings in shares of Solventum by 26.1% in the third quarter. Boston Partners now owns 4,630,300 shares of the company's stock valued at $338,006,000 after buying an additional 959,543 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Solventum by 20.0% in the fourth quarter. Geode Capital Management LLC now owns 4,588,728 shares of the company's stock valued at $362,375,000 after buying an additional 763,308 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SOLV shares. Weiss Ratings upgraded shares of Solventum from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 17th. Piper Sandler lowered their price objective on shares of Solventum from $98.00 to $92.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Wedbush initiated coverage on shares of Solventum in a research note on Friday, May 15th. They issued an "outperform" rating and a $94.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Solventum from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Finally, BMO Capital Markets initiated coverage on shares of Solventum in a research note on Wednesday, July 8th. They set a "market perform" rating and a $81.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Solventum presently has an average rating of "Hold" and an average price target of $86.00.

Solventum Price Performance

Solventum stock opened at $87.95 on Tuesday. The business's 50-day simple moving average is $78.63 and its 200 day simple moving average is $74.25. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.32 and a beta of 0.60. Solventum Corporation has a 12-month low of $62.38 and a 12-month high of $88.65. The company has a quick ratio of 0.75, a current ratio of 1.07 and a debt-to-equity ratio of 0.96.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.13. Solventum had a return on equity of 23.51% and a net margin of 17.33%.The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company earned $1.34 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. As a group, research analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current 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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.

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