Solventum Co. (NYSE:SOLV) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 252,153 shares of the company's stock after selling 32,466 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Solventum worth $16,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SOLV. Geneos Wealth Management Inc. purchased a new stake in shares of Solventum during the fourth quarter valued at $58,000. Blue Trust Inc. raised its stake in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock worth $549,000 after acquiring an additional 161 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Solventum by 3.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 28,694 shares of the company's stock worth $1,896,000 after acquiring an additional 868 shares during the period. Forsta AP Fonden purchased a new stake in Solventum during the 4th quarter valued at about $1,876,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Solventum in the fourth quarter valued at about $35,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SOLV shares. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. The Goldman Sachs Group lifted their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Wells Fargo & Company upped their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $78.00 to $87.00 in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Performance

SOLV stock traded down $0.01 during midday trading on Monday, hitting $73.08. 961,023 shares of the stock traded hands, compared to its average volume of 1,225,714. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock's fifty day simple moving average is $69.45 and its 200-day simple moving average is $71.32. The firm has a market cap of $12.64 billion and a P/E ratio of 33.83.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $2.08 earnings per share. Solventum's revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Solventum Co. 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.