Solventum Co. (NYSE:SOLV) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 10,315.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 346,742 shares of the company's stock after acquiring an additional 343,413 shares during the period. GAMMA Investing LLC owned 0.20% of Solventum worth $26,366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clarity Asset Management Inc. bought a new stake in shares of Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum during the fourth quarter valued at approximately $26,000. Raiffeisen Bank International AG bought a new stake in shares of Solventum during the fourth quarter valued at approximately $29,000. Colonial Trust Co SC raised its position in shares of Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after buying an additional 361 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Solventum during the fourth quarter valued at approximately $37,000.

Solventum Stock Up 0.2%

Solventum stock traded up $0.14 during trading hours on Thursday, reaching $75.28. The stock had a trading volume of 784,067 shares, compared to its average volume of 1,216,080. The company has a market cap of $13.02 billion and a price-to-earnings ratio of 34.85. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business's 50 day moving average price is $69.40 and its 200-day moving average price is $71.41. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the company earned $2.08 EPS. The business's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Solventum Co. will post 6.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Mizuho boosted their target price on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $80.29.

About Solventum

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.