Skandinaviska Enskilda Banken AB publ Sells 15,600 Shares of Solventum Corporation (NYSE:SOLV)

Key Points

• Skandinaviska Enskilda Banken AB publ sold 15,600 shares of Solventum Corporation, reducing its holdings by 18.8%, leaving it with 67,167 shares valued at $5,107,000.
• Research analysts have recently upgraded Solventum's stock, with Morgan Stanley raising its rating to "overweight" and increasing its price target from $80.00 to $103.00.
• Solventum reported $1.34 earnings per share for the latest quarter, exceeding estimates, with revenue of $2.07 billion reflecting a 2.7% year-over-year growth.

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,167 shares of the company's stock after selling 15,600 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Solventum were worth $5,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Solventum during the first quarter worth $216,000. Bessemer Group Inc. lifted its holdings in shares of Solventum by 17.1% during the first quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock worth $150,000 after purchasing an additional 287 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after purchasing an additional 159 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Solventum by 140.6% during the first quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock worth $139,000 after purchasing an additional 1,064 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Solventum during the fourth quarter worth $18,583,000.

Solventum Stock Down 0.2%

Shares of NYSE SOLV traded down $0.12 during trading on Thursday, hitting $72.86. 200,825 shares of the company traded hands, compared to its average volume of 1,040,305. The business's fifty day moving average is $74.17 and its 200 day moving average is $72.99. Solventum Corporation has a fifty-two week low of $54.26 and a fifty-two week high of $85.92. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 1.88 and a beta of 0.55. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Equities research analysts predict that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $84.38.

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.