Solventum Corporation (NYSE:SOLV) Position Increased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. raised its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 139.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 577,173 shares of the company's stock after purchasing an additional 336,282 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.33% of Solventum worth $43,888,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new stake in Solventum in the first quarter valued at approximately $216,000. Bessemer Group Inc. boosted its stake in shares of Solventum by 17.1% in the first quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock valued at $150,000 after purchasing an additional 287 shares during the period. Perigon Wealth Management LLC grew its holdings in Solventum by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock valued at $331,000 after purchasing an additional 159 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Solventum by 140.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock worth $139,000 after buying an additional 1,064 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Solventum in the 4th quarter worth $18,583,000.

Solventum Stock Performance

NYSE:SOLV traded down $0.43 during trading hours on Thursday, reaching $73.97. 449,118 shares of the stock were exchanged, compared to its average volume of 674,936. The stock has a market capitalization of $12.80 billion, a P/E ratio of 34.24, a P/E/G ratio of 1.91 and a beta of 0.55. The firm has a 50 day simple moving average of $74.22 and a 200-day simple moving average of $72.85. 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 $54.26 and a 52 week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last announced 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 firm 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 firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. As a group, sell-side analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.