Charles Schwab Investment Management Inc. Grows Stock Holdings in Solventum Corporation (NYSE:SOLV)

Charles Schwab Investment Management Inc. increased its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,173,960 shares of the company's stock after buying an additional 24,762 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Solventum worth $89,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trian Fund Management L.P. raised its stake in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after buying an additional 1,336,564 shares during the period. Northern Trust Corp increased its holdings in shares of Solventum by 21.5% in the 4th quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock valued at $115,559,000 after acquiring an additional 309,077 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Solventum by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,106,194 shares of the company's stock worth $73,075,000 after buying an additional 52,423 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Solventum by 45.1% in the 4th quarter. Deutsche Bank AG now owns 961,750 shares of the company's stock valued at $63,533,000 after purchasing an additional 298,970 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Solventum by 5.1% in the 4th quarter. Bank of America Corp DE now owns 855,690 shares of the company's stock valued at $56,527,000 after buying an additional 41,578 shares during the period.

Solventum Trading Down 2.3%

SOLV traded down $1.70 during trading on Friday, reaching $71.50. 3,952,372 shares of the stock traded hands, compared to its average volume of 931,170. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. Solventum Corporation has a 12 month low of $58.61 and a 12 month high of $85.92. The stock has a market capitalization of $12.40 billion, a PE ratio of 33.10, a P/E/G ratio of 1.73 and a beta of 0.52. The stock's 50-day moving average is $74.02 and its 200 day moving average is $72.93.

Solventum (NYSE:SOLV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the firm earned $1.56 EPS. The company's revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SOLV shares. Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. KeyCorp began coverage on Solventum in a research note on Friday, June 6th. They set a "sector weight" rating for the company. Piper Sandler restated an "overweight" rating and issued a $94.00 target price (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus 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.