Philip James Wealth Mangement LLC Has $3.62 Million Stock Holdings in Solventum Corporation (NYSE:SOLV)

Philip James Wealth Mangement LLC trimmed its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 12.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,548 shares of the company's stock after selling 6,884 shares during the quarter. Philip James Wealth Mangement LLC's holdings in Solventum were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SOLV. Norges Bank acquired a new stake in shares of Solventum during the 4th quarter worth approximately $203,740,000. Boston Partners acquired a new stake in Solventum during the fourth quarter worth $110,378,000. Trian Fund Management L.P. increased its holdings in Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after buying an additional 1,336,564 shares during the period. Independent Franchise Partners LLP raised its stake in shares of Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock valued at $105,904,000 after buying an additional 821,272 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock worth $43,086,000 after acquiring an additional 499,031 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SOLV shares. Morgan Stanley increased their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Mizuho raised their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Finally, KeyCorp assumed coverage on Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Up 0.5%

Shares of NYSE SOLV traded up $0.35 during trading hours on Monday, hitting $75.81. The company had a trading volume of 744,758 shares, compared to its average volume of 1,127,842. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $100.00. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. The firm's 50 day moving average is $71.48 and its 200-day moving average is $71.89. The stock has a market capitalization of $13.12 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 1.93 and a beta of 0.54.

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

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.