Handelsbanken Fonder AB Raises Stock Position in Solventum Co. (NYSE:SOLV)

Handelsbanken Fonder AB grew its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 38,700 shares of the company's stock after buying an additional 3,700 shares during the period. Handelsbanken Fonder AB's holdings in Solventum were worth $2,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SOLV. Norges Bank purchased a new stake in shares of Solventum in the fourth quarter valued at about $203,740,000. Boston Partners purchased a new position in Solventum during the fourth quarter worth about $110,378,000. Trian Fund Management L.P. raised its holdings in Solventum by 18.8% during the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after purchasing an additional 1,336,564 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Solventum by 105.0% during the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after purchasing an additional 821,272 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Solventum by 570.0% during the first quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock worth $38,354,000 after purchasing an additional 429,109 shares in the last quarter.

Solventum Price Performance

Shares of SOLV stock traded down $0.68 during trading hours on Friday, hitting $73.61. The company's stock had a trading volume of 597,591 shares, compared to its average volume of 1,199,555. The business has a fifty day moving average of $69.98 and a 200-day moving average of $71.66. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 1.94 and a beta of 0.54. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. 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 (NYSE:SOLV - Get Free Report) last posted its quarterly 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 company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. As a group, equities research analysts anticipate that Solventum Co. will post 6.58 EPS for the current year.

Wall Street Analysts Forecast Growth

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