Jackson Creek Investment Advisors LLC Buys New Stake in Solventum Corporation (NYSE:SOLV)

Jackson Creek Investment Advisors LLC purchased a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,722 shares of the company's stock, valued at approximately $283,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of Solventum during the 1st quarter valued at approximately $805,000. General American Investors Co. Inc. lifted its holdings in Solventum by 2.4% during the first quarter. General American Investors Co. Inc. now owns 212,350 shares of the company's stock valued at $16,147,000 after purchasing an additional 5,000 shares in the last quarter. Welch & Forbes LLC grew its position in shares of Solventum by 11.4% in the first quarter. Welch & Forbes LLC now owns 3,981 shares of the company's stock valued at $303,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. increased its stake in shares of Solventum by 45.2% during the first quarter. Victory Capital Management Inc. now owns 98,264 shares of the company's stock worth $7,472,000 after purchasing an additional 30,610 shares in the last quarter. Finally, Mayar Capital Ltd. increased its stake in shares of Solventum by 187.2% during the first quarter. Mayar Capital Ltd. now owns 86,990 shares of the company's stock worth $6,615,000 after purchasing an additional 56,700 shares in the last quarter.

Solventum Price Performance

Solventum stock opened at $73.29 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a 50-day moving average price of $74.19 and a 200 day moving average price of $72.67. Solventum Corporation has a 12-month low of $53.03 and a 12-month high of $85.92. The stock has a market cap of $12.68 billion, a P/E ratio of 33.93, a PEG ratio of 1.89 and a beta of 0.55.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 EPS. Sell-side analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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