Nuance Investments LLC Has $53.26 Million Holdings in Solventum Corporation (NYSE:SOLV)

Key Points

• Nuance Investments LLC has significantly reduced its position in Solventum Corporation by 48.4% in the first quarter, now holding approximately 700,370 shares worth $53.26 million.
• Several research analysts have issued new ratings for Solventum, with Argus upgrading it to a "buy" and setting a price target of $90.00, while Morgan Stanley raised their target to $103.00.
• Solventum reported earnings of $1.69 per share for the last quarter, surpassing expectations and showing a 3.8% increase in revenue year-over-year.

Nuance Investments LLC trimmed its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 48.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,370 shares of the company's stock after selling 655,847 shares during the quarter. Solventum comprises approximately 3.5% of Nuance Investments LLC's portfolio, making the stock its 11th largest holding. Nuance Investments LLC owned approximately 0.40% of Solventum worth $53,256,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SOLV. Public Sector Pension Investment Board raised its stake in Solventum by 9.0% in the first quarter. Public Sector Pension Investment Board now owns 17,798 shares of the company's stock valued at $1,353,000 after buying an additional 1,467 shares in the last quarter. Cypress Capital Group boosted its holdings in Solventum by 2.1% in the 1st quarter. Cypress Capital Group now owns 18,575 shares of the company's stock valued at $1,412,000 after purchasing an additional 390 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in Solventum by 13.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 4,306 shares of the company's stock valued at $327,000 after purchasing an additional 525 shares in the last quarter. SouthState Corp boosted its stake in shares of Solventum by 31.9% during the 1st quarter. SouthState Corp now owns 699 shares of the company's stock worth $53,000 after acquiring an additional 169 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Solventum during the 1st quarter worth approximately $35,375,000.

Solventum Stock Down 2.3%

Shares of NYSE:SOLV traded down $1.70 during trading on Friday, reaching $71.50. 3,952,372 shares of the company traded hands, compared to its average volume of 931,170. The firm has a fifty day simple moving average of $74.02 and a 200 day simple moving average of $72.94. The firm has a market cap of $12.40 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 1.77 and a beta of 0.52. Solventum Corporation has a 1-year low of $58.61 and a 1-year high of $85.92. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on SOLV. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Wells Fargo & Company boosted their price target on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a report on Tuesday, July 1st. Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 price objective (up from $87.00) on shares of Solventum in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $85.75.

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.