Citigroup Inc. Has $9.78 Million Holdings in Solventum Corporation $SOLV

Key Points

• Citigroup Inc. increased its holdings in Solventum Corporation by 72.7% in the first quarter, owning approximately $9.78 million worth of shares as of its latest SEC filing.
• Analyst ratings for Solventum have been positive, with one firm upgrading it to a "strong-buy" and price targets ranging from $75.00 to $94.00 among several brokers.
• Solventum reported a net margin of 4.52% for the last quarter, with earnings per share of $1.69, exceeding analysts' expectations of $1.45.

Citigroup Inc. boosted its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 72.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,637 shares of the company's stock after acquiring an additional 54,164 shares during the period. Citigroup Inc. owned approximately 0.07% of Solventum worth $9,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in Solventum during the first quarter worth about $216,000. Bessemer Group Inc. lifted its holdings in Solventum by 17.1% during the first quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock worth $150,000 after acquiring an additional 287 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after acquiring an additional 159 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Solventum by 140.6% during the first quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock worth $139,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Solventum during the fourth quarter worth about $18,583,000.

Analysts Set New Price Targets

Several research firms have weighed in on SOLV. KeyCorp began coverage on Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Piper Sandler restated an "overweight" rating and issued a $94.00 price target (up from $87.00) on shares of Solventum in a report on Friday, August 8th. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $85.75.

Solventum Stock Up 2.0%

SOLV traded up $1.4470 on Tuesday, hitting $72.2070. 1,156,683 shares of the company were exchanged, compared to its average volume of 1,090,311. Solventum Corporation has a 12 month low of $58.76 and a 12 month high of $85.92. The company has a market cap of $12.52 billion, a PE ratio of 33.43, a PEG ratio of 1.73 and a beta of 0.52. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The stock's fifty day moving average is $73.93 and its 200-day moving average is $72.89.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Solventum news, major shareholder Co 3M sold 8,800,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $73.45, for a total transaction of $646,360,000.00. Following the transaction, the insider owned 25,569,190 shares of the company's stock, valued at $1,878,057,005.50. The trade was a 25.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

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.