Nuveen Asset Management LLC Has $31.34 Million Position in Solventum Co. (NYSE:SOLV)

Nuveen Asset Management LLC decreased its position in Solventum Co. (NYSE:SOLV - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 474,406 shares of the company's stock after selling 32,326 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Solventum worth $31,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. acquired a new stake in shares of Solventum during the 4th quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Solventum during the 4th quarter valued at $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum during the 4th quarter valued at $32,000. Colonial Trust Co SC boosted its stake in shares of Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after buying an additional 361 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of Solventum during the 4th quarter valued at $35,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $78.00 to $87.00 in a research note on Monday, May 19th. The Goldman Sachs Group lifted their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Bank of America lifted their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $80.29.

Solventum Stock Performance

Solventum stock traded up $1.68 on Tuesday, reaching $72.49. 794,932 shares of the stock were exchanged, compared to its average volume of 1,244,979. The stock has a market cap of $12.54 billion and a PE ratio of 33.56. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The firm has a fifty day moving average price of $69.55 and a two-hundred day moving average price of $71.26.

Solventum (NYSE:SOLV - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. Sell-side analysts anticipate that Solventum Co. will post 6.58 EPS 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.