Strong Tower Advisory Services Buys 31,379 Shares of Solventum Co. (NYSE:SOLV)

Strong Tower Advisory Services lifted its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 68.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,272 shares of the company's stock after purchasing an additional 31,379 shares during the quarter. Solventum accounts for approximately 1.4% of Strong Tower Advisory Services' holdings, making the stock its 24th largest position. Strong Tower Advisory Services' holdings in Solventum were worth $5,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. New York Life Investment Management LLC grew its stake in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Solventum by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock valued at $71,000 after buying an additional 171 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Solventum by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock valued at $348,000 after buying an additional 181 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after buying an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after buying an additional 223 shares in the last quarter.

Solventum Stock Performance

Shares of NYSE:SOLV traded up $0.31 during trading on Thursday, hitting $75.45. 177,532 shares of the stock were exchanged, compared to its average volume of 1,214,250. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a market capitalization of $13.05 billion and a price-to-earnings ratio of 34.93. The company's fifty day simple moving average is $69.40 and its 200-day simple moving average is $71.41. 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 (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. Solventum's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. Sell-side analysts expect that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho upped their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Finally, Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $80.29.

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.