Philip James Wealth Mangement LLC Sells 6,884 Shares of Solventum Corporation (NYSE:SOLV)

Philip James Wealth Mangement LLC reduced its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,548 shares of the company's stock after selling 6,884 shares during the period. Philip James Wealth Mangement LLC's holdings in Solventum were worth $3,616,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Solventum by 1,101.4% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 877 shares of the company's stock worth $67,000 after purchasing an additional 804 shares during the period. Hikari Power Ltd purchased a new position in shares of Solventum in the first quarter valued at about $357,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Solventum by 8.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 31,238 shares of the company's stock valued at $2,375,000 after acquiring an additional 2,544 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Solventum by 137.0% during the first quarter. Sequoia Financial Advisors LLC now owns 17,344 shares of the company's stock worth $1,319,000 after purchasing an additional 10,027 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in shares of Solventum by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after purchasing an additional 159 shares during the last quarter.

Solventum Price Performance

Shares of SOLV opened at $74.72 on Friday. The firm has a market cap of $12.93 billion, a PE ratio of 34.59, a P/E/G ratio of 1.92 and a beta of 0.54. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The firm has a fifty day simple moving average of $71.30 and a two-hundred day simple moving average of $71.82.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Mizuho increased their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. KeyCorp started coverage on Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $80.29.

About Solventum

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.

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