Creekmur Asset Management LLC Acquires Shares of 10,585 Solventum Corporation (NYSE:SOLV)

Creekmur Asset Management LLC bought a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,585 shares of the company's stock, valued at approximately $805,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Solventum in the 4th quarter worth about $203,740,000. Trian Fund Management L.P. raised its position in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after purchasing an additional 1,336,564 shares during the last quarter. Independent Franchise Partners LLP raised its position in shares of Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after purchasing an additional 821,272 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock worth $43,086,000 after purchasing an additional 499,031 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Solventum by 570.0% during the first quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock valued at $38,354,000 after buying an additional 429,109 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on SOLV. KeyCorp began coverage on Solventum in a research note on Friday, June 6th. They set a "sector weight" rating for the company. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $78.00 to $87.00 in a research note on Monday, May 19th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. Finally, 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 research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $84.38.

Solventum Price Performance

Shares of SOLV traded down $0.57 during mid-day trading on Friday, hitting $73.29. 584,156 shares of the stock were exchanged, compared to its average volume of 1,080,834. The company has a market cap of $12.68 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.88 and a beta of 0.55. Solventum Corporation has a 52-week low of $53.03 and a 52-week high of $85.92. The firm has a 50-day moving average of $74.19 and a two-hundred day moving average of $72.71. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. On average, equities analysts predict that Solventum Corporation 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.