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

General American Investors Co. Inc. lifted its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,350 shares of the company's stock after purchasing an additional 5,000 shares during the period. Solventum accounts for approximately 1.2% of General American Investors Co. Inc.'s holdings, making the stock its 29th largest position. General American Investors Co. Inc. owned about 0.12% of Solventum worth $16,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SOLV. Concurrent Investment Advisors LLC purchased a new stake in Solventum in the 1st quarter worth $216,000. Bessemer Group Inc. increased its stake in Solventum by 17.1% in the 1st quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock worth $150,000 after buying an additional 287 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Solventum by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after buying an additional 159 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Solventum in the 4th quarter worth $18,583,000. Finally, Farther Finance Advisors LLC increased its stake in Solventum by 140.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock worth $139,000 after buying an additional 1,064 shares in the last quarter.

Solventum Trading Down 0.8%

Shares of NYSE:SOLV traded down $0.57 during trading on Friday, reaching $73.29. The company's stock had a trading volume of 584,156 shares, compared to its average volume of 1,093,651. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 12 month low of $52.40 and a 12 month high of $85.92. The firm's 50 day simple moving average is $74.13 and its two-hundred day simple moving average is $72.62. The stock has a market capitalization of $12.68 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.87 and a beta of 0.55.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. On average, research analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $80.00 to $103.00 in a research note on Tuesday. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Tuesday, July 1st. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating for the company. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $78.00 to $87.00 in a report on Monday, May 19th. One 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.38.

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.