ProShare Advisors LLC Acquires 11,272 Shares of Solventum Co. (NYSE:SOLV)

ProShare Advisors LLC lifted its stake in Solventum Co. (NYSE:SOLV - Free Report) by 60.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,909 shares of the company's stock after acquiring an additional 11,272 shares during the quarter. ProShare Advisors LLC's holdings in Solventum were worth $1,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Clarity Asset Management Inc. bought a new stake in Solventum in the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum during the fourth quarter valued at $26,000. Crews Bank & Trust bought a new position in Solventum in the fourth quarter valued at about $32,000. Colonial Trust Co SC boosted its position in Solventum by 240.7% in 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. Finally, Synergy Asset Management LLC bought a new stake in shares of Solventum during the 4th quarter valued at about $35,000.

Analyst Ratings Changes

SOLV has been the topic of several recent research reports. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Mizuho boosted their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and raised their price objective 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, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum currently has a consensus rating of "Hold" and an average target price of $80.29.

Solventum Price Performance

Shares of NYSE:SOLV traded down $1.81 during trading on Monday, hitting $70.85. 1,119,844 shares of the company's stock were exchanged, compared to its average volume of 1,246,786. The business's 50-day simple moving average is $69.71 and its 200 day simple moving average is $71.26. The company has a market cap of $12.26 billion and a price-to-earnings ratio of 32.80. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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. During the same quarter in the previous year, the business earned $2.08 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Solventum Co. will post 6.58 EPS for the current 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.