Toronto Dominion Bank Trims Stock Holdings in Solventum Co. (NYSE:SOLV)

Toronto Dominion Bank lessened its stake in Solventum Co. (NYSE:SOLV - Free Report) by 22.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,317 shares of the company's stock after selling 15,779 shares during the period. Toronto Dominion Bank's holdings in Solventum were worth $3,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Solventum in the fourth quarter valued at about $203,740,000. Boston Partners acquired a new stake in Solventum in the fourth quarter valued at about $110,378,000. Trian Fund Management L.P. lifted its position 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 boosted its holdings in 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 purchasing an additional 821,272 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Solventum by 41.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock worth $78,833,000 after purchasing an additional 347,669 shares during the period.

Solventum Price Performance

Shares of SOLV stock traded down $0.01 during mid-day trading on Monday, reaching $73.08. The stock had a trading volume of 961,023 shares, compared to its average volume of 1,225,714. The company has a market cap of $12.64 billion and a P/E ratio of 33.83. 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 12-month low of $47.16 and a 12-month high of $85.92. The business has a 50-day simple moving average of $69.45 and a 200 day simple moving average of $71.32.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.02 billion. Solventum's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. On average, sell-side analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and increased their price target for the company from $78.00 to $87.00 in a report on Monday, May 19th. 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 report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.