First Trust Advisors LP Increases Stock Holdings in Solventum Corporation $SOLV

Key Points

• First Trust Advisors LP increased its Solventum stake by 57.4% in the first quarter, adding 121,989 shares and bringing its holdings to 334,441 shares valued at approximately $21.8 million.
• Analyst sentiment is mixed: seven analysts rate Solventum a Buy, five recommend Hold and one recommends Sell. The consensus rating is Hold, with an average price target of $86.
• Solventum exceeded first-quarter earnings and revenue expectations, reporting $1.48 in EPS and $2.01 billion in revenue, although revenue declined 3% year over year. Shares opened at $88.56, near their 52-week high of $88.65.

First Trust Advisors LP boosted its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 57.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,441 shares of the company's stock after buying an additional 121,989 shares during the period. First Trust Advisors LP owned approximately 0.19% of Solventum worth $21,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Independent Franchise Partners LLP increased its holdings in shares of Solventum by 19.0% during the fourth quarter. Independent Franchise Partners LLP now owns 15,355,691 shares of the company's stock valued at $1,216,785,000 after acquiring an additional 2,456,451 shares in the last quarter. State Street Corp raised its position in shares of Solventum by 2.0% in the 4th quarter. State Street Corp now owns 6,344,761 shares of the company's stock valued at $502,759,000 after purchasing an additional 124,490 shares during the last quarter. Davis Selected Advisers boosted its stake in Solventum by 12.7% in the 4th quarter. Davis Selected Advisers now owns 6,220,072 shares of the company's stock worth $492,880,000 after purchasing an additional 702,461 shares in the last quarter. Boston Partners boosted its stake in Solventum by 26.1% in the 3rd quarter. Boston Partners now owns 4,630,300 shares of the company's stock worth $338,006,000 after purchasing an additional 959,543 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Solventum by 20.0% in the 4th quarter. Geode Capital Management LLC now owns 4,588,728 shares of the company's stock worth $362,375,000 after purchasing an additional 763,308 shares in the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Solventum from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. BMO Capital Markets began coverage on shares of Solventum in a research note on Wednesday, July 8th. They set a "market perform" rating and a $81.00 price objective for the company. BTIG Research reissued a "buy" rating and set a $91.00 price objective on shares of Solventum in a report on Monday, July 13th. Piper Sandler cut their target price on Solventum from $98.00 to $92.00 and set an "overweight" rating on the stock in a research report on Friday, April 17th. Finally, KeyCorp raised their target price on Solventum from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $86.00.

Solventum Price Performance

Shares of NYSE SOLV opened at $88.56 on Thursday. Solventum Corporation has a 52 week low of $62.38 and a 52 week high of $88.65. The business's 50 day moving average price is $78.03 and its 200 day moving average price is $74.19. The company has a quick ratio of 0.75, a current ratio of 1.07 and a debt-to-equity ratio of 0.96. The firm has a market cap of $15.34 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.33 and a beta of 0.66.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.13. Solventum had a net margin of 17.33% and a return on equity of 23.51%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $1.34 EPS. Solventum's revenue for the quarter was down 3.0% compared to the same quarter last year. Solventum has set its FY 2026 guidance at 6.600-6.600 EPS. On average, sell-side analysts expect that Solventum Corporation will post 6.58 earnings per share for the current year.

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source