ProShare Advisors LLC boosted its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 60.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its position in Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after purchasing an additional 161 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Solventum by 3.6% in the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock valued at $348,000 after purchasing an additional 181 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Solventum by 2.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after purchasing an additional 192 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Solventum by 48.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares during the last quarter.
Wall Street Analyst Weigh In
SOLV has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Mizuho upped their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Finally, Bank of America upped their price target on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Solventum presently has a consensus rating of "Hold" and an average price target of $80.29.
View Our Latest Analysis on Solventum
Solventum Trading Down 1.5%
Shares of Solventum stock opened at $74.67 on Wednesday. The company has a market capitalization of $12.92 billion and a price-to-earnings ratio of 34.57. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The firm's 50-day moving average price is $69.87 and its two-hundred day moving average price is $71.31.
Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 earnings per share. On average, analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal year.
About Solventum
(
Free Report)
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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