Quantinno Capital Management LP Boosts Stock Position in Solventum Co. (NYSE:SOLV)

Quantinno Capital Management LP lifted its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 126.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,575 shares of the company's stock after acquiring an additional 8,149 shares during the period. Quantinno Capital Management LP's holdings in Solventum were worth $963,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Solventum by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after buying an additional 75,631 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Solventum by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock valued at $227,992,000 after purchasing an additional 112,686 shares in the last quarter. Norges Bank acquired a new position in shares of Solventum in the 4th quarter valued at about $203,740,000. Invesco Ltd. lifted its stake in shares of Solventum by 6.4% in the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock valued at $193,101,000 after purchasing an additional 176,201 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Solventum by 21.5% in the 4th quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock valued at $115,559,000 after purchasing an additional 309,077 shares in the last quarter.

Solventum Stock Down 1.1%

SOLV stock traded down $0.80 during midday trading on Thursday, hitting $71.83. 195,272 shares of the company's stock were exchanged, compared to its average volume of 1,238,463. The company has a current ratio of 1.15, a quick ratio of 0.83 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 has a 50 day moving average price of $69.52 and a 200-day moving average price of $71.27. The stock has a market capitalization of $12.43 billion and a price-to-earnings ratio of 33.28.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho lifted their price objective on 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 price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Bank of America raised their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. 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 report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Solventum currently has an average rating of "Hold" and a consensus price target of $80.29.

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.