JT Stratford LLC Acquires 3,967 Shares of Solventum Co. (NYSE:SOLV)

JT Stratford LLC grew its position in Solventum Co. (NYSE:SOLV - Free Report) by 17.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,692 shares of the company's stock after buying an additional 3,967 shares during the period. JT Stratford LLC's holdings in Solventum were worth $1,763,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SOLV. Clarity Asset Management Inc. bought a new stake in shares of Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new stake in Solventum in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG acquired a new stake in Solventum in the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in Solventum in the 4th quarter worth approximately $32,000. Finally, Colonial Trust Co SC boosted its stake in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after purchasing an additional 361 shares in the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of recent analyst reports. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $78.00 to $87.00 in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Solventum has a consensus rating of "Hold" and an average target price of $80.29.

Solventum Stock Performance

SOLV opened at $72.84 on Thursday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $12.60 billion and a PE ratio of 33.72. The firm has a 50 day moving average of $69.85 and a two-hundred day moving average of $71.32.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. Solventum's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. On average, analysts anticipate that Solventum Co. will post 6.58 EPS for the current year.

About Solventum

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.