FORA Capital LLC Invests $676,000 in Solventum Corporation $SOLV

Key Points

• FORA Capital LLC has acquired a new stake in Solventum Corporation, purchasing 8,884 shares valued at approximately $676,000.
• Solventum reported a quarterly earnings per share (EPS) of $1.69, surpassing analysts' expectations of $1.45, with a revenue increase of 3.8% year-over-year.
• Analysts have varied opinions on Solventum, with several upgrades and a consensus target price of $85.75, reflecting a generally favorable outlook despite some ratings being downgraded.

FORA Capital LLC purchased a new stake in Solventum Corporation (NYSE:SOLV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,884 shares of the company's stock, valued at approximately $676,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Solventum by 39.7% during the first quarter. Comerica Bank now owns 77,725 shares of the company's stock worth $5,910,000 after buying an additional 22,079 shares during the period. Independent Franchise Partners LLP boosted its position in Solventum by 263.1% during the 1st quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company's stock worth $442,608,000 after acquiring an additional 4,217,570 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Solventum by 193.4% in the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock valued at $40,000 after purchasing an additional 352 shares during the last quarter. Allstate Corp boosted its holdings in Solventum by 48.6% during the first quarter. Allstate Corp now owns 6,478 shares of the company's stock worth $493,000 after purchasing an additional 2,120 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in Solventum by 15.6% during the 1st quarter. Norinchukin Bank The now owns 7,351 shares of the company's stock worth $559,000 after buying an additional 994 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on SOLV shares. KeyCorp initiated coverage on shares of Solventum in a research report on Friday, June 6th. They set a "sector weight" rating on the stock. Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $80.00 to $103.00 in a report on Tuesday, July 15th. Wells Fargo & Company increased their target price on shares of Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Piper Sandler reissued an "overweight" rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a report on Friday, August 8th. Finally, Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Solventum has an average rating of "Hold" and a consensus target price of $85.75.

Solventum Trading Down 1.8%

SOLV opened at $71.79 on Wednesday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. Solventum Corporation has a fifty-two week low of $60.70 and a fifty-two week high of $85.92. The company's 50 day moving average price is $73.70 and its two-hundred day moving average price is $72.80. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.77 and a beta of 0.53.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict 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.