30,000 Shares in Solventum Corporation $SOLV Purchased by Sector Gamma AS

Key Points

• Sector Gamma AS has invested approximately $2.28 million in Solventum Corporation by acquiring 30,000 shares during the first quarter.
• Analysts have generally upgraded their ratings for Solventum, with the current consensus being a "Hold" and an average price target of $85.75.
• For the last quarter, Solventum reported earnings of $1.69 per share and revenue of $2.16 billion, surpassing analysts' expectations.

Sector Gamma AS acquired a new stake in Solventum Corporation (NYSE:SOLV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,000 shares of the company's stock, valued at approximately $2,281,000.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Solventum by 0.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 180,629 shares of the company's stock worth $11,932,000 after purchasing an additional 1,665 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Solventum by 29.5% in the 4th quarter. Russell Investments Group Ltd. now owns 53,491 shares of the company's stock worth $3,534,000 after buying an additional 12,174 shares during the period. Federated Hermes Inc. boosted its holdings in Solventum by 231.3% in the fourth quarter. Federated Hermes Inc. now owns 2,359 shares of the company's stock valued at $156,000 after acquiring an additional 1,647 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Solventum during the fourth quarter valued at about $18,583,000. Finally, Sterling Capital Management LLC increased its stake in Solventum by 52.6% during the fourth quarter. Sterling Capital Management LLC now owns 8,507 shares of the company's stock worth $562,000 after acquiring an additional 2,932 shares during the last quarter.

Solventum Stock Performance

Shares of NYSE:SOLV traded up $1.4470 on Tuesday, hitting $72.2070. The company's stock had a trading volume of 1,136,785 shares, compared to its average volume of 1,087,204. Solventum Corporation has a 12 month low of $58.76 and a 12 month high of $85.92. The stock's 50-day moving average is $73.93 and its two-hundred day moving average is $72.89. 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 company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52.

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

Insiders Place Their Bets

In other Solventum news, major shareholder Co 3M sold 8,800,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $73.45, for a total transaction of $646,360,000.00. Following the completion of the sale, the insider directly owned 25,569,190 shares in the company, valued at $1,878,057,005.50. This represents a 25.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SOLV has been the subject of a number of research reports. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 target price (up previously from $87.00) on shares of Solventum in a research note on Friday, August 8th. Wells Fargo & Company raised their target price on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $85.75.

Solventum 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.