Mackenzie Financial Corp Has $2.78 Million Position in Solventum Co. (NYSE:SOLV)

Mackenzie Financial Corp lowered its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,095 shares of the company's stock after selling 5,934 shares during the period. Mackenzie Financial Corp's holdings in Solventum were worth $2,781,000 as of its most recent filing with the SEC.

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

Solventum Trading Up 0.6%

NYSE SOLV traded up $0.43 on Friday, hitting $73.04. 4,073,029 shares of the company were exchanged, compared to its average volume of 1,226,780. The company's 50 day moving average price is $69.45 and its 200-day moving average price is $71.29. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a market capitalization of $12.64 billion and a P/E ratio of 33.81. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. Solventum's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. Analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SOLV shares. Bank of America upped their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and increased their target price for the company from $78.00 to $87.00 in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Solventum presently has an average rating of "Hold" and a consensus price target of $80.29.

Solventum Company 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.