JT Stratford LLC grew its position in Solventum Co. (NYSE:SOLV - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,692 shares of the company's stock after acquiring an additional 3,967 shares during the quarter. JT Stratford LLC's holdings in Solventum were worth $1,763,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ananym Capital Management LP purchased a new position in Solventum during the fourth quarter worth approximately $17,620,000. Poehling Capital Management INC. lifted its position in Solventum by 271.2% during the fourth quarter. Poehling Capital Management INC. now owns 30,551 shares of the company's stock worth $2,018,000 after buying an additional 22,321 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Solventum by 5.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,106,194 shares of the company's stock worth $73,075,000 after buying an additional 52,423 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in Solventum by 33.9% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 63,842 shares of the company's stock worth $4,217,000 after buying an additional 16,177 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Solventum during the fourth quarter worth approximately $548,000.
Solventum Trading Up 2.2%
NYSE:SOLV traded up $1.59 on Tuesday, reaching $72.40. The company's stock had a trading volume of 272,053 shares, compared to its average volume of 1,242,948. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm has a market cap of $12.53 billion and a price-to-earnings ratio of 33.51. The stock has a 50 day moving average price of $69.60 and a 200 day moving average price of $71.25.
Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Solventum Co. will post 6.58 EPS for the current fiscal year.
Analysts Set New Price Targets
SOLV has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley lifted their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Solventum presently has an average rating of "Hold" and an average price target of $80.29.
View Our Latest Report on Solventum
Solventum Company Profile
(
Free Report)
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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