New York State Teachers Retirement System Lowers Stock Position in Solventum Corporation (NYSE:SOLV)

New York State Teachers Retirement System decreased its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,750 shares of the company's stock after selling 9,949 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Solventum worth $8,726,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Solventum by 17.1% during the first quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock worth $150,000 after buying an additional 287 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Solventum during the fourth quarter worth about $18,583,000. Perigon Wealth Management LLC boosted its stake in shares of Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after buying an additional 159 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Solventum by 26.2% during the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company's stock worth $4,469,000 after buying an additional 14,065 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Solventum by 140.6% during the first quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock worth $139,000 after buying an additional 1,064 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on SOLV. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $78.00 to $87.00 in a research report on Monday, May 19th. KeyCorp began coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Solventum has an average rating of "Hold" and a consensus price target of $81.50.

Solventum Price Performance

Shares of SOLV stock traded down $0.35 during midday trading on Friday, reaching $77.90. 474,266 shares of the company traded hands, compared to its average volume of 1,120,707. The firm's 50 day simple moving average is $72.66 and its two-hundred day simple moving average is $72.17. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. The firm has a market cap of $13.48 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.01 and a beta of 0.55.

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

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.