Asset Management One Co. Ltd. Increases Stock Holdings in Solventum Corporation (NYSE:SOLV)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York Life Investment Management LLC grew its position in Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after acquiring an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings 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 buying an additional 171 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Solventum by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock worth $348,000 after acquiring an additional 181 shares in the last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of Solventum by 22.0% during the first quarter. Brown Lisle Cummings Inc. now owns 1,038 shares of the company's stock valued at $79,000 after purchasing an additional 187 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock worth $584,000 after purchasing an additional 192 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SOLV shares. KeyCorp assumed coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Morgan Stanley boosted 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. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Finally, Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $81.50.

Solventum Stock Performance

Shares of NYSE:SOLV traded up $0.09 during trading on Wednesday, hitting $77.98. 316,081 shares of the stock traded hands, compared to its average volume of 1,123,566. The company has a fifty day moving average price of $71.98 and a two-hundred day moving average price of $71.97. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 1.94 and a beta of 0.55. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Solventum's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Solventum Corporation will post 6.58 EPS for the current year.

Solventum 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.