Toronto Dominion Bank Has $3.65 Million Holdings in Solventum Co. (NYSE:SOLV)

Toronto Dominion Bank trimmed its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,317 shares of the company's stock after selling 15,779 shares during the quarter. Toronto Dominion Bank's holdings in Solventum were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Solventum by 31.6% during the fourth quarter. Royal Bank of Canada now owns 319,423 shares of the company's stock worth $21,101,000 after acquiring an additional 76,757 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Solventum by 11.8% during the 4th quarter. Rafferty Asset Management LLC now owns 15,672 shares of the company's stock worth $1,035,000 after purchasing an additional 1,659 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Solventum during the 4th quarter worth $29,000. ProShare Advisors LLC increased its holdings in shares of Solventum by 60.5% in the 4th quarter. ProShare Advisors LLC now owns 29,909 shares of the company's stock valued at $1,976,000 after purchasing an additional 11,272 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Solventum by 126.8% in the fourth quarter. Quantinno Capital Management LP now owns 14,575 shares of the company's stock valued at $963,000 after purchasing an additional 8,149 shares during the period.

Solventum Trading Down 0.1%

SOLV stock traded down $0.04 during mid-day trading on Wednesday, reaching $72.49. 155,690 shares of the stock traded hands, compared to its average volume of 1,240,731. The stock's fifty day moving average is $69.55 and its 200-day moving average is $71.26. The company has a market cap of $12.54 billion and a P/E ratio of 33.59. 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 52-week low of $47.16 and a 52-week high of $85.92.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on SOLV shares. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. Wells Fargo & Company upped their price target on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Bank of America boosted their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Solventum has a consensus rating of "Hold" and a consensus target price of $80.29.

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.