Man Group plc Raises Stock Position in Solventum Co. (NYSE:SOLV)

Man Group plc boosted its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 1,032.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,457 shares of the company's stock after buying an additional 58,764 shares during the quarter. Man Group plc's holdings in Solventum were worth $4,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Norges Bank acquired a new stake in Solventum during the fourth quarter valued at $203,740,000. Boston Partners acquired a new stake in shares of Solventum in the fourth quarter valued at about $110,378,000. Independent Franchise Partners LLP grew its position in shares of Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock valued at $105,904,000 after purchasing an additional 821,272 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Solventum by 41.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after purchasing an additional 347,669 shares during the period. Finally, Candlestick Capital Management LP grew its position in shares of Solventum by 67.7% in the fourth quarter. Candlestick Capital Management LP now owns 802,606 shares of the company's stock valued at $53,020,000 after purchasing an additional 323,920 shares during the period.

Solventum Price Performance

Shares of NYSE:SOLV traded up $1.68 during midday trading on Tuesday, hitting $72.49. The company's stock had a trading volume of 794,932 shares, compared to its average volume of 1,244,979. The business's 50 day simple moving average is $69.55 and its 200 day simple moving average is $71.26. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a market cap of $12.54 billion and a P/E ratio of 33.56. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOLV. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Morgan Stanley lifted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Finally, Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $80.29.

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.