Solventum Corporation (NYSE:SOLV) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 137.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,344 shares of the company's stock after purchasing an additional 10,027 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Solventum were worth $1,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clarity Asset Management Inc. acquired a new position in shares of Solventum during the fourth quarter worth about $25,000. Raiffeisen Bank International AG acquired a new position in Solventum during the 4th quarter worth approximately $29,000. Colonial Trust Co SC grew its holdings in Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after acquiring an additional 361 shares in the last quarter. Banque Transatlantique SA acquired a new position in Solventum during the 4th quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after acquiring an additional 223 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Mizuho boosted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. KeyCorp started coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, The Goldman Sachs Group upped 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $80.29.

Solventum Stock Up 1.0%

Shares of NYSE:SOLV opened at $75.38 on Monday. The stock has a market cap of $13.04 billion, a P/E ratio of 34.90, a P/E/G ratio of 1.93 and a beta of 0.54. The firm has a fifty day moving average price of $71.48 and a 200 day moving average price of $71.89. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Solventum Corporation will post 6.58 EPS for the current year.

Solventum 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.