General American Investors Co. Inc. Purchases 5,000 Shares of Solventum Corporation (NYSE:SOLV)

General American Investors Co. Inc. grew its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,350 shares of the company's stock after acquiring an additional 5,000 shares during the quarter. Solventum comprises approximately 1.2% of General American Investors Co. Inc.'s investment portfolio, making the stock its 29th biggest position. General American Investors Co. Inc. owned about 0.12% of Solventum worth $16,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SOLV. Proficio Capital Partners LLC purchased a new position in shares of Solventum during the 4th quarter worth $1,545,000. Sequoia Financial Advisors LLC boosted its holdings in Solventum by 27.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,317 shares of the company's stock valued at $483,000 after acquiring an additional 1,580 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Solventum by 2.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after acquiring an additional 192 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Solventum during the 4th quarter valued at about $322,000.

Wall Street Analyst Weigh In

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

Solventum Trading Down 0.8%

Shares of NYSE SOLV traded down $0.57 during mid-day trading on Friday, hitting $73.29. 584,156 shares of the company traded hands, compared to its average volume of 1,080,834. Solventum Corporation has a 1 year low of $53.03 and a 1 year high of $85.92. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.88 and a beta of 0.55. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. The business has a 50 day moving average of $74.19 and a two-hundred day moving average of $72.71.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping 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. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The business's 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 EPS. On average, sell-side analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current fiscal 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.