Invesco Ltd. Cuts Holdings in Solventum Corporation (NYSE:SOLV)

Invesco Ltd. decreased its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,701,848 shares of the company's stock after selling 221,271 shares during the period. Invesco Ltd. owned about 1.56% of Solventum worth $205,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in Solventum in the first quarter valued at approximately $25,000. Clarity Asset Management Inc. acquired a new position in shares of Solventum during the fourth quarter worth $25,000. Raiffeisen Bank International AG acquired a new position in shares of Solventum during the fourth quarter worth $29,000. Hara Capital LLC acquired a new position in shares of Solventum during the first quarter worth $38,000. Finally, Colonial Trust Co SC lifted its holdings in shares of Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after purchasing an additional 361 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOLV. Wall Street Zen upgraded shares of Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Morgan Stanley upgraded shares of 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 lifted their price target on shares of Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Finally, Piper Sandler reiterated an "overweight" rating and set a $94.00 price target (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Solventum presently has a consensus rating of "Hold" and a consensus target price of $85.75.

Solventum Trading Down 2.3%

NYSE SOLV traded down $1.70 during mid-day trading on Friday, reaching $71.50. 3,952,372 shares of the stock were exchanged, compared to its average volume of 931,170. Solventum Corporation has a one year low of $58.61 and a one year high of $85.92. The stock has a 50 day simple moving average of $74.02 and a 200-day simple moving average of $72.93. The stock has a market cap of $12.40 billion, a P/E ratio of 33.10, a P/E/G ratio of 1.73 and a beta of 0.52. 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 (NYSE:SOLV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business 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. Solventum's quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that Solventum Corporation will post 6.58 EPS 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.