Public Employees Retirement System of Ohio Sells 6,432 Shares of Solventum Co. (NYSE:SOLV)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,993 shares of the company's stock after selling 6,432 shares during the period. Public Employees Retirement System of Ohio's holdings in Solventum were worth $4,492,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOLV. Norges Bank acquired a new position in shares of Solventum during the fourth quarter worth approximately $203,740,000. Boston Partners purchased a new stake in Solventum in the 4th quarter valued at $110,378,000. Trian Fund Management L.P. raised its position 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 last quarter. Independent Franchise Partners LLP raised its position in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Solventum by 41.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after buying an additional 347,669 shares during the last quarter.

Solventum Stock Performance

Shares of Solventum stock traded up $0.43 during trading hours on Friday, hitting $73.04. 4,073,029 shares of the company's stock traded hands, compared to its average volume of 1,226,780. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a market capitalization of $12.64 billion and a price-to-earnings ratio of 33.81. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a fifty day simple moving average of $69.45 and a 200-day simple moving average of $71.29.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. Equities research analysts anticipate that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Bank of America increased their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and increased their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Mizuho increased their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. The Goldman Sachs Group raised their target price on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently 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.