KBC Group NV Acquires 57,887 Shares of Solventum Corporation (NYSE:SOLV)

KBC Group NV grew its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,820 shares of the company's stock after purchasing an additional 57,887 shares during the period. KBC Group NV owned approximately 0.17% of Solventum worth $22,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SOLV. Clarity Asset Management Inc. acquired a new stake in shares of Solventum in the fourth quarter worth $25,000. Raiffeisen Bank International AG acquired a new stake in shares of Solventum during the fourth quarter worth approximately $29,000. Colonial Trust Co SC grew its position in Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after purchasing an additional 361 shares in the last quarter. Banque Transatlantique SA acquired a new position in Solventum in the 4th quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC lifted its position in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after buying an additional 223 shares in the last quarter.

Solventum Stock Performance

Shares of Solventum stock traded up $0.32 during midday trading on Wednesday, hitting $78.21. The company had a trading volume of 1,166,478 shares, compared to its average volume of 1,126,133. The stock has a market cap of $13.53 billion, a PE ratio of 14.27, a P/E/G ratio of 1.99 and a beta of 0.55. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The business's 50 day simple moving average is $71.98 and its two-hundred day simple moving average is $71.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Analysts Set New Price Targets

SOLV has been the topic of several research reports. Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Tuesday. KeyCorp initiated coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.50.

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.