Solventum Corporation $SOLV Shares Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its holdings in Solventum Corporation by 58.3% in Q1, acquiring 4,621 shares, bringing its total to 12,546 shares valued at $954,000.
• Analysts have been bullish on Solventum, with notable upgrades from Wells Fargo and Morgan Stanley, raising price targets significantly, which currently averages around $85.75.
• Solventum reported a quarterly earnings beat with $1.69 EPS and revenue of $2.16 billion, exceeding analyst expectations and showing a 3.8% increase compared to the previous year.

Neuberger Berman Group LLC boosted its stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,546 shares of the company's stock after purchasing an additional 4,621 shares during the period. Neuberger Berman Group LLC's holdings in Solventum were worth $954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOLV. Boston Partners grew its holdings in shares of Solventum by 101.3% during the first quarter. Boston Partners now owns 3,361,973 shares of the company's stock valued at $255,554,000 after buying an additional 1,691,565 shares during the last quarter. Trian Fund Management L.P. lifted its position in Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after acquiring an additional 1,336,564 shares during the period. Assenagon Asset Management S.A. grew its stake in Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after purchasing an additional 499,031 shares during the last quarter. Nuveen LLC purchased a new position in shares of Solventum in the first quarter worth about $35,375,000. Finally, Wedge Capital Management L L P NC raised its stake in shares of Solventum by 570.0% in the first quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock worth $38,354,000 after purchasing an additional 429,109 shares during the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the subject of several research analyst reports. KeyCorp initiated coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating for the company. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Wells Fargo & Company increased their price objective on shares of Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Solventum from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $85.75.

Solventum Stock Performance

Shares of NYSE:SOLV traded up $1.4470 during midday trading on Tuesday, reaching $72.2070. The company's stock had a trading volume of 1,156,683 shares, compared to its average volume of 1,090,311. The firm has a market capitalization of $12.52 billion, a PE ratio of 33.43, a P/E/G ratio of 1.73 and a beta of 0.52. 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 has a fifty day moving average of $73.93 and a 200 day moving average of $72.89. Solventum Corporation has a twelve month low of $58.76 and a twelve month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.45 by $0.24. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts expect that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Co 3M sold 8,800,000 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $73.45, for a total transaction of $646,360,000.00. Following the sale, the insider owned 25,569,190 shares in the company, valued at approximately $1,878,057,005.50. This trade represents a 25.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.05% of the company's stock.

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.