Asset Management One Co. Ltd. Has $4.68 Million Holdings in Solventum Corporation (NYSE:SOLV)

Asset Management One Co. Ltd. grew its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,494 shares of the company's stock after acquiring an additional 6,617 shares during the period. Asset Management One Co. Ltd.'s holdings in Solventum were worth $4,676,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Solventum in the 4th quarter valued at $203,740,000. Boston Partners acquired a new stake in shares of Solventum in the fourth quarter worth about $110,378,000. Trian Fund Management L.P. boosted its stake in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after acquiring an additional 1,336,564 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Solventum by 105.0% during the 4th 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. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after acquiring an additional 499,031 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on SOLV. KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Mizuho raised their target price on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. One investment 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 MarketBeat, the company presently has an average rating of "Hold" and an average price target of $80.29.

Solventum Stock Performance

Shares of Solventum stock traded up $0.19 during midday trading on Monday, hitting $75.65. The company had a trading volume of 39,009 shares, compared to its average volume of 1,125,071. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $100.00. The business's 50 day simple moving average is $71.48 and its two-hundred day simple moving average is $71.89. The stock has a market cap of $13.09 billion, a PE ratio of 35.06, a P/E/G ratio of 1.93 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $2.08 EPS. The business's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal 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.