Sector Gamma AS Acquires 8,000 Shares of Solventum Corporation $SOLV

Key Points

• Sector Gamma AS increased its stake in Solventum Corporation by 26.7%, acquiring an additional 8,000 shares for a total of 38,000 shares valued at approximately $2.88 million.
• Solventum reported a $1.69 EPS for the last quarter, exceeding analysts' expectations of $1.45, and had a revenue of $2.16 billion which was above the forecasted $2.12 billion.
• Several research firms have upgraded their ratings on Solventum, with Zacks Research raising it from "hold" to "strong-buy", indicating growing confidence in the company's prospects.

Sector Gamma AS grew its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 26.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,000 shares of the company's stock after acquiring an additional 8,000 shares during the period. Sector Gamma AS's holdings in Solventum were worth $2,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chelsea Counsel Co. boosted its position in Solventum by 720.7% during the second quarter. Chelsea Counsel Co. now owns 10,595 shares of the company's stock valued at $804,000 after purchasing an additional 9,304 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Solventum by 84.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 825 shares of the company's stock worth $63,000 after purchasing an additional 378 shares during the last quarter. CX Institutional increased its position in shares of Solventum by 11.7% during the 2nd quarter. CX Institutional now owns 2,376 shares of the company's stock worth $180,000 after purchasing an additional 249 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Solventum during the 2nd quarter worth approximately $71,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Solventum by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 63,719 shares of the company's stock valued at $4,832,000 after buying an additional 583 shares during the last quarter.

Solventum Trading Down 0.6%

Shares of Solventum stock opened at $72.30 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The firm has a 50-day moving average of $72.62 and a 200-day moving average of $72.07. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The stock has a market cap of $12.54 billion, a PE ratio of 33.47, a PEG ratio of 2.96 and a beta of 0.50.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SOLV. Zacks Research raised shares of Solventum from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 15th. Jefferies Financial Group started coverage on shares of Solventum in a research report on Thursday, September 11th. They issued a "hold" rating and a $80.00 price objective for the company. UBS Group initiated coverage on shares of Solventum in a report on Wednesday, October 1st. They issued a "neutral" rating and a $77.00 target price on the stock. Wall Street Zen downgraded Solventum from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 9th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 price objective (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.89.

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.

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