Solventum Corporation (NYSE:SOLV) Stock Position Lowered by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC reduced its holdings in Solventum Corporation (NYSE:SOLV) by 49.9% during Q1, now owning 17,394 shares worth approximately $1.32 million.
• Several institutional investors, including Vanguard Group and Trian Fund Management, have recently increased their positions in Solventum, with Vanguard owning over 16.26 million shares.
• Analysts have upgraded Solventum's stock ratings; Piper Sandler raised it to "overweight" with a new price target of $87, indicating positive sentiment among financial analysts.

Private Advisor Group LLC cut its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 49.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,394 shares of the company's stock after selling 17,290 shares during the quarter. Private Advisor Group LLC's holdings in Solventum were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp assumed coverage on Solventum in a report on Friday, June 6th. They set a "sector weight" rating for the company. 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 report on Tuesday, July 1st. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Finally, Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Solventum has an average rating of "Hold" and an average target price of $84.38.

Solventum Trading Down 1.3%

Shares of NYSE SOLV traded down $0.95 during midday trading on Monday, reaching $73.80. 399,539 shares of the stock were exchanged, compared to its average volume of 1,055,380. Solventum Corporation has a 52-week low of $54.26 and a 52-week high of $85.92. The stock has a 50 day moving average price of $74.23 and a 200-day moving average price of $72.94. 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 company has a market capitalization of $12.77 billion, a P/E ratio of 34.17, a P/E/G ratio of 1.91 and a beta of 0.55.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping 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 firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. Equities research analysts expect that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.