Bank of Nova Scotia Has $1.12 Million Stock Holdings in Solventum Corporation (NYSE:SOLV)

Bank of Nova Scotia lowered its position in Solventum Corporation (NYSE:SOLV - Free Report) by 21.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,736 shares of the company's stock after selling 4,012 shares during the quarter. Bank of Nova Scotia's holdings in Solventum were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC increased its position in Solventum by 16.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,175 shares of the company's stock valued at $342,000 after acquiring an additional 731 shares during the period. Wellington Management Group LLP grew its stake in shares of Solventum by 22.7% in the fourth quarter. Wellington Management Group LLP now owns 8,504 shares of the company's stock worth $562,000 after purchasing an additional 1,571 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Solventum in the fourth quarter valued at $3,029,000. Envestnet Asset Management Inc. raised its position in Solventum by 0.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 180,629 shares of the company's stock worth $11,932,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Solventum by 29.5% during the 4th quarter. Russell Investments Group Ltd. now owns 53,491 shares of the company's stock worth $3,534,000 after buying an additional 12,174 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SOLV shares. Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating for the company. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $84.38.

Solventum Stock Performance

Shares of SOLV stock opened at $71.99 on Friday. The firm has a 50 day moving average of $74.20 and a 200-day moving average of $73.01. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.86 and a beta of 0.52. 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 Corporation has a 52 week low of $55.62 and a 52 week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.24. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. Solventum's revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast 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.

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