Solventum Co. (NYSE:SOLV) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 126.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,575 shares of the company's stock after purchasing an additional 8,149 shares during the period. Quantinno Capital Management LP's holdings in Solventum were worth $963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Clarity Asset Management Inc. purchased a new stake in Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum during the 4th quarter worth approximately $26,000. Crews Bank & Trust purchased a new stake in Solventum during the 4th quarter worth approximately $32,000. Colonial Trust Co SC increased its stake in 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 buying an additional 361 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in Solventum during the 4th quarter worth approximately $35,000.

Solventum Stock Up 0.3%

Shares of NYSE:SOLV traded up $0.22 during trading hours on Wednesday, reaching $72.75. The stock had a trading volume of 625,022 shares, compared to its average volume of 1,146,088. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. The firm's 50 day moving average is $69.55 and its 200-day moving average is $71.26. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a market capitalization of $12.59 billion and a price-to-earnings ratio of 33.66.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. Research analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several recent research reports. Bank of America upped their target price 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 upped their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Wells Fargo & Company upped their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Solventum has an average rating of "Hold" and a consensus target price 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.