Solventum Corporation (NYSE:SOLV) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in Solventum Corporation by 42%, now holding 16,413 shares valued at approximately $1.25 million.
• Solventum reported a Q2 earnings per share (EPS) of $1.69, exceeding the consensus estimate of $1.45, with a revenue increase of 3.8% year-over-year.
• Research analysts have set a consensus price target of $85.75 for Solventum, with some rating it a "buy," while others maintain a "hold" rating.

Ontario Teachers Pension Plan Board lessened its stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 42.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,413 shares of the company's stock after selling 11,885 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Solventum were worth $1,248,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Rossby Financial LCC purchased a new stake in shares of Solventum in the first quarter valued at approximately $25,000. Clarity Asset Management Inc. purchased a new stake in shares of Solventum during the 4th quarter worth $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the 4th quarter worth $29,000. Hara Capital LLC acquired a new position in shares of Solventum during the 1st quarter worth $38,000. Finally, Colonial Trust Co SC increased its holdings in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after purchasing an additional 361 shares in the last quarter.

Solventum Stock Up 0.2%

Shares of Solventum stock traded up $0.15 on Tuesday, hitting $72.01. 735,321 shares of the company's stock traded hands, compared to its average volume of 1,041,522. 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 firm's 50-day moving average is $74.18 and its 200 day moving average is $72.98. The stock has a market cap of $12.46 billion, a P/E ratio of 33.34, a PEG ratio of 1.81 and a beta of 0.52. Solventum Corporation has a 52-week low of $56.69 and a 52-week high of $85.92.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Argus raised shares of 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. KeyCorp initiated coverage on Solventum in a research report on Friday, June 6th. They set a "sector weight" rating for the company. Piper Sandler restated an "overweight" rating and set a $94.00 target price (up previously from $87.00) on shares of Solventum in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Solventum currently has a consensus rating of "Hold" and an average target price 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.