Nuveen LLC Buys Shares of 465,220 Solventum Corporation $SOLV

Key Points

• Nuveen LLC acquired 465,220 shares of Solventum Corporation (NYSE:SOLV) valued at approximately $35.4 million, making it a notable institutional investor in the company.
• Solventum achieved earnings of $1.69 per share for the last quarter, exceeding analysts' expectations of $1.45, with revenue rising 3.8% year-over-year.
• Analyst ratings for Solventum are generally positive, with upgrades from multiple firms, and a consensus rating of "Hold" along with a price target averaging around $85.75.

Nuveen LLC purchased a new position in shares of Solventum Corporation (NYSE:SOLV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 465,220 shares of the company's stock, valued at approximately $35,375,000. Nuveen LLC owned approximately 0.27% of Solventum as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in SOLV. Clarity Asset Management Inc. acquired a new stake in shares of Solventum during the fourth quarter worth $25,000. Rossby Financial LCC acquired a new stake in shares of Solventum during the first quarter worth $25,000. Strengthening Families & Communities LLC boosted its holdings in shares of Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Solventum during the fourth quarter worth $29,000. Finally, Colonial Trust Co SC boosted its holdings in shares of Solventum by 240.7% during 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 last quarter.

Solventum Stock Up 2.0%

Shares of NYSE SOLV traded up $1.4470 during midday trading on Tuesday, reaching $72.2070. 1,156,683 shares of the company's stock were exchanged, compared to its average volume of 1,090,311. Solventum Corporation has a 52-week low of $58.76 and a 52-week high of $85.92. The stock has a market capitalization of $12.52 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The business's fifty day moving average price is $73.93 and its two-hundred day moving average price is $72.89.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. KeyCorp assumed coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Wells Fargo & Company lifted their target price on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 target price (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.75.

Insiders Place Their Bets

In related news, major shareholder Co 3M sold 8,800,000 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $73.45, for a total value of $646,360,000.00. Following the completion of the sale, the insider directly owned 25,569,190 shares of the company's stock, valued at $1,878,057,005.50. The trade was a 25.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is currently owned by corporate insiders.

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.