Assenagon Asset Management S.A. Increases Holdings in Solventum Corporation $SOLV

Key Points

• Assenagon Asset Management S.A. increased its stake in Solventum Corporation by 2.2%, acquiring an additional 12,744 shares, bringing its total to 579,367 shares valued at approximately $43.94 million.
• Solventum reported strong earnings with an EPS of $1.69 for the last quarter, surpassing analysts' expectations, and projecting a FY 2025 guidance between $5.800 and $5.950 EPS.
• Despite mixed ratings from analysts, the stock currently holds a consensus rating of "Hold" with a price target of $85.44, while several firms have adjusted their target prices upward recently.

Assenagon Asset Management S.A. boosted its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 579,367 shares of the company's stock after acquiring an additional 12,744 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of Solventum worth $43,939,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Solventum by 0.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company's stock valued at $1,500,000 after buying an additional 140 shares during the last quarter. Tradition Wealth Management LLC lifted its position in shares of Solventum by 1.6% in the first quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company's stock valued at $671,000 after acquiring an additional 143 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Solventum by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after buying an additional 159 shares in the last quarter. SouthState Corp increased its stake in Solventum by 31.9% during the first quarter. SouthState Corp now owns 699 shares of the company's stock worth $53,000 after acquiring an additional 169 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Solventum by 22.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock worth $71,000 after purchasing an additional 171 shares in the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the topic of a number of research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 price target (up from $87.00) on shares of Solventum in a research note on Friday, August 8th. Zacks Research upgraded shares of Solventum from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 15th. KeyCorp assumed coverage on shares of Solventum in a research note on Friday, June 6th. They set 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 Tuesday, September 9th. Finally, Wells Fargo & Company boosted their price target on shares of Solventum from $79.00 to $82.00 and gave the company an "equal weight" rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $85.44.

Solventum Price Performance

SOLV stock traded up $0.04 during mid-day trading on Tuesday, reaching $73.80. 222,265 shares of the company traded hands, compared to its average volume of 1,085,216. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. The company has a market capitalization of $12.80 billion, a P/E ratio of 34.16, a P/E/G ratio of 3.00 and a beta of 0.53. The company has a fifty day moving average price of $72.97 and a 200-day moving average price of $72.32.

Solventum (NYSE:SOLV - Get Free Report) last issued 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. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current year.

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.