Solventum Corporation (NYSE:SOLV) Holdings Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in Solventum Corporation by 8.5%, now holding approximately 250,063 shares worth $19 million.
• Solventum reported a quarterly earnings per share (EPS) of $1.69, exceeding analysts' expectations, alongside a revenue of $2.16 billion which reflects a 3.8% increase from the previous year.
• Analysts have raised their price targets for Solventum, with Morgan Stanley increasing it from $80 to $103, indicating positive sentiment for the stock's future performance.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,063 shares of the company's stock after buying an additional 19,628 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of Solventum worth $19,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. purchased a new stake in Solventum in the 4th quarter worth approximately $25,000. Rossby Financial LCC purchased a new stake in Solventum in the 1st quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new stake in Solventum in the 4th quarter worth approximately $29,000. Colonial Trust Co SC lifted its position in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after buying an additional 361 shares in the last quarter. Finally, Hara Capital LLC purchased a new stake in Solventum in the 1st quarter worth approximately $38,000.

Solventum Stock Performance

NYSE:SOLV opened at $73.34 on Monday. Solventum Corporation has a 1 year low of $56.69 and a 1 year high of $85.92. The firm's fifty day simple moving average is $74.21 and its 200 day simple moving average is $73.00. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $12.69 billion, a PE ratio of 33.95, a PEG ratio of 1.81 and a beta of 0.52.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the business posted $1.56 EPS. Solventum's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Solventum Corporation will post 6.58 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SOLV shares. KeyCorp started coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Wells Fargo & Company raised their price target on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday. Piper Sandler raised their price target on shares of Solventum from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Friday. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Finally, Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Solventum has an average rating of "Hold" and a consensus target price of $85.75.

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.

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