Royal Bank of Canada Has $21.10 Million Stock Position in Solventum Co. (NYSE:SOLV)

Royal Bank of Canada raised its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 319,423 shares of the company's stock after acquiring an additional 76,757 shares during the quarter. Royal Bank of Canada owned about 0.18% of Solventum worth $21,101,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new position in shares of Solventum in the 4th quarter worth $235,000. Nisa Investment Advisors LLC boosted its holdings in Solventum by 2.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 33,546 shares of the company's stock worth $2,216,000 after buying an additional 708 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Solventum by 1,593.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company's stock worth $968,000 after buying an additional 13,785 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Solventum in the 4th quarter valued at about $58,000. Finally, Blue Trust Inc. increased its stake in shares of Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after acquiring an additional 161 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho lifted their price objective 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. Morgan Stanley boosted their price target 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. Bank of America raised their price objective on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Stock Down 0.2%

Solventum stock traded down $0.17 during midday trading on Thursday, reaching $72.46. The stock had a trading volume of 614,822 shares, compared to its average volume of 1,239,683. The stock has a market capitalization of $12.54 billion and a P/E ratio of 33.57. The firm's fifty day simple moving average is $69.52 and its 200-day simple moving average is $71.27. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

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, beating analysts' consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $2.08 earnings per share. Solventum's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that Solventum Co. will post 6.58 EPS for the current fiscal 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.