Solventum Corporation $SOLV Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada sold 68,014 shares of Solventum Corporation ($SOLV), reducing its ownership by 21.3% and holding 0.15% of the company worth approximately $19.1 million.
• Solventum reported a quarterly EPS of $1.69, exceeding analysts' expectations, with a revenue of $2.16 billion, which was also above consensus forecasts.
• Equity analysts have adjusted their price targets for Solventum; Piper Sandler increased its target to $94.00, while Wells Fargo raised theirs to $79.00.

Royal Bank of Canada decreased its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,409 shares of the company's stock after selling 68,014 shares during the quarter. Royal Bank of Canada owned about 0.15% of Solventum worth $19,116,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SOLV. Rossby Financial LCC purchased a new stake in shares of Solventum during the first quarter worth $25,000. Strengthening Families & Communities LLC grew its holdings in shares of Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after buying an additional 260 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the fourth quarter worth $29,000. Hara Capital LLC purchased a new stake in shares of Solventum during the first quarter worth $38,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Solventum by 193.4% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $40,000 after buying an additional 352 shares in the last quarter.

Solventum Trading Down 0.3%

NYSE SOLV traded down $0.21 during trading hours on Monday, reaching $73.19. The company had a trading volume of 1,563,354 shares, compared to its average volume of 1,005,564. The stock has a 50-day moving average of $73.03 and a 200 day moving average of $72.46. Solventum Corporation has a 1-year low of $60.70 and a 1-year high of $85.92. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $12.69 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.12 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. Solventum's revenue for the quarter was up 3.8% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $80.00 to $103.00 in a report on Tuesday, July 15th. Piper Sandler reissued an "overweight" rating and set a $94.00 price target (up previously from $87.00) on shares of Solventum in a research report on Friday, August 8th. Jefferies Financial Group started coverage on shares of Solventum in a research report on Thursday. They set a "hold" rating and a $80.00 price target on the stock. KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They set a "sector weight" rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Solventum from $79.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $85.44.

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.