Solventum Corporation (NYSE:SOLV) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Solventum Corporation by 12.5%, selling 120,519 shares during the first quarter and now holds 0.49% of the company.
• Several large investors, including Trian Fund Management L.P. and Northern Trust Corp, have increased their holdings in Solventum, indicating a shift in investor sentiment.
• Analysts have shown a positive outlook for Solventum, with upgrades from firms like Piper Sandler and Morgan Stanley, raising price targets significantly, reflecting bullish sentiment towards the stock.

Deutsche Bank AG reduced its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 841,231 shares of the company's stock after selling 120,519 shares during the quarter. Deutsche Bank AG owned approximately 0.49% of Solventum worth $63,967,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Trian Fund Management L.P. increased its holdings 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 acquiring an additional 1,336,564 shares during the period. Northern Trust Corp increased its holdings in shares of Solventum by 21.5% in the 4th quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock worth $115,559,000 after acquiring an additional 309,077 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Solventum by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,173,960 shares of the company's stock worth $89,268,000 after acquiring an additional 24,762 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Solventum by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,106,194 shares of the company's stock worth $73,075,000 after acquiring an additional 52,423 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Solventum by 5.1% in the 4th quarter. Bank of America Corp DE now owns 855,690 shares of the company's stock worth $56,527,000 after acquiring an additional 41,578 shares during the period.

Analysts Set New Price Targets

SOLV has been the topic of a number of analyst reports. KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 price objective (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. Wall Street Zen raised shares of Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $80.00 to $103.00 in a report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $85.75.

Solventum Price Performance

Shares of SOLV stock traded down $1.70 during midday trading on Friday, reaching $71.50. 3,952,372 shares of the company were exchanged, compared to its average volume of 931,170. Solventum Corporation has a 12 month low of $58.61 and a 12 month high of $85.92. The company has a market cap of $12.40 billion, a P/E ratio of 33.10, a PEG ratio of 1.77 and a beta of 0.52. The company's 50 day moving average price is $74.02 and its two-hundred day moving average price is $72.94. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. Solventum's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. On average, sell-side analysts expect 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.