First Bank & Trust Makes New $279,000 Investment in Solventum Corporation (NYSE:SOLV)

First Bank & Trust acquired a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,667 shares of the company's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rossby Financial LCC purchased a new stake in Solventum during the first quarter worth approximately $25,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Solventum by 43.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,638 shares of the company's stock valued at $1,493,000 after buying an additional 5,961 shares during the last quarter. Mather Group LLC. grew its stake in shares of Solventum by 280.4% in the first quarter. Mather Group LLC. now owns 1,590 shares of the company's stock worth $121,000 after purchasing an additional 1,172 shares in the last quarter. Amalgamated Bank lifted its holdings in Solventum by 1.3% in the first quarter. Amalgamated Bank now owns 27,120 shares of the company's stock worth $2,062,000 after purchasing an additional 352 shares during the period. Finally, KBC Group NV lifted its stake in shares of Solventum by 24.6% in the 1st quarter. KBC Group NV now owns 292,820 shares of the company's stock worth $22,266,000 after acquiring an additional 57,887 shares during the period.

Solventum Stock Down 0.4%

SOLV stock traded down $0.35 during midday trading on Friday, hitting $77.90. The company's stock had a trading volume of 474,266 shares, compared to its average volume of 1,124,466. The stock has a market capitalization of $13.48 billion, a P/E ratio of 36.06, a PEG ratio of 2.00 and a beta of 0.55. The company's fifty day moving average price is $72.43 and its 200 day moving average price is $72.07. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. Solventum Corporation has a twelve month low of $47.16 and a twelve month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, equities research analysts predict that Solventum Corporation will post 6.58 EPS for the current year.

Analysts Set New Price Targets

SOLV has been the topic of a number of recent research reports. Piper Sandler upgraded 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 report on Monday, May 19th. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Finally, Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $81.50.

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.