Solventum Corporation $SOLV Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in Solventum Corporation by 48.5%, now holding 62,207 shares valued at $4.73 million.
• Several hedge funds have increased their positions in Solventum, with Trian Fund Management boosting its stake by 18.8%, bringing its total shares to 8,462,819.
• Wall Street analysts have shown positive sentiment towards Solventum, with multiple upgrades including a shift from "buy" to "strong-buy" from Wall Street Zen and price targets raised by various firms.

Korea Investment CORP reduced its position in Solventum Corporation (NYSE:SOLV - Free Report) by 48.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,207 shares of the company's stock after selling 58,500 shares during the quarter. Korea Investment CORP's holdings in Solventum were worth $4,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. purchased a new stake in Solventum in the 4th quarter worth about $25,000. Rossby Financial LCC purchased a new position in shares of Solventum during the first quarter worth approximately $25,000. Strengthening Families & Communities LLC increased its position in shares of Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after acquiring an additional 260 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Solventum during the fourth quarter worth approximately $29,000. Finally, Colonial Trust Co SC increased its position 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 acquiring an additional 361 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp assumed coverage on shares of Solventum in a research report on Friday, June 6th. They set a "sector weight" rating on the stock. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Solventum from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Wells Fargo & Company raised their target price on shares of Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Solventum has a consensus rating of "Hold" and a consensus target price of $85.75.

Solventum Stock Up 0.0%

Shares of NYSE SOLV traded up $0.01 during midday trading on Wednesday, reaching $72.93. 392,696 shares of the company's stock traded hands, compared to its average volume of 1,079,850. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. The stock's 50 day simple moving average is $73.76 and its 200-day simple moving average is $72.84. Solventum Corporation has a one year low of $59.35 and a one year high of $85.92. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 1.76 and a beta of 0.52.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the firm earned $1.56 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal 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.