Rhumbline Advisers Grows Stock Holdings in Solventum Co. (NYSE:SOLV)

Rhumbline Advisers grew its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,263 shares of the company's stock after buying an additional 25,339 shares during the quarter. Rhumbline Advisers owned 0.17% of Solventum worth $22,832,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SOLV. Vanguard Group Inc. raised its position in Solventum by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after acquiring an additional 75,631 shares in the last quarter. Trian Fund Management L.P. increased its holdings in shares of 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 purchasing an additional 1,336,564 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 stake in shares of Solventum in the fourth quarter valued at about $203,740,000. Finally, Invesco Ltd. boosted its holdings in Solventum by 6.4% during the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after buying an additional 176,201 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SOLV. Morgan Stanley lifted their price target 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. The Goldman Sachs Group boosted their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Bank of America upped 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. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $80.29.

Solventum Price Performance

Shares of NYSE SOLV traded up $0.06 during trading on Monday, reaching $74.90. The company had a trading volume of 1,089,740 shares, compared to its average volume of 1,209,949. 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 twelve month low of $47.16 and a twelve month high of $85.92. The stock has a 50-day moving average price of $69.36 and a two-hundred day moving average price of $71.55. The stock has a market capitalization of $12.96 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The company 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 business posted $2.08 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Solventum Co. will post 6.58 earnings per share for the current year.

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.