Meyer Handelman Co. Decreases Stock Position in Solventum Co. (NYSE:SOLV)

Meyer Handelman Co. reduced its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 57.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,311 shares of the company's stock after selling 7,111 shares during the period. Meyer Handelman Co.'s holdings in Solventum were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SOLV. Norges Bank bought a new position in Solventum in the 4th quarter valued at approximately $203,740,000. Boston Partners bought a new stake in shares of Solventum in the fourth quarter worth $110,378,000. Trian Fund Management L.P. increased its holdings in Solventum by 18.8% in the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after purchasing an additional 1,336,564 shares during the period. Independent Franchise Partners LLP grew its position in shares of Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock valued at $105,904,000 after buying an additional 821,272 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock worth $78,833,000 after acquiring an additional 347,669 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on SOLV shares. Bank of America boosted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and upped their target price for the company from $78.00 to $87.00 in a research report on Monday, May 19th. The Goldman Sachs Group lifted their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Mizuho raised their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. One research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $80.29.

Solventum Price Performance

Solventum stock traded up $1.11 during midday trading on Tuesday, hitting $74.23. 1,135,793 shares of the company's stock were exchanged, compared to its average volume of 1,225,359. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a market cap of $12.84 billion and a P/E ratio of 34.37. The stock has a 50-day moving average price of $69.42 and a two-hundred day moving average price of $71.36.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Solventum Co. will post 6.58 earnings per share for the current year.

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.