Sequoia Financial Advisors LLC Has $1.32 Million Stock Position in Solventum Corporation (NYSE:SOLV)

Sequoia Financial Advisors LLC grew its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 137.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,344 shares of the company's stock after acquiring 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 reporting period.

A number of other hedge funds also recently modified their holdings of the business. Clarity Asset Management Inc. acquired a new stake in shares of Solventum in the 4th quarter valued at about $25,000. Raiffeisen Bank International AG acquired a new stake in Solventum in the 4th quarter valued at approximately $29,000. Colonial Trust Co SC raised its position in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after buying an additional 361 shares during the last quarter. Banque Transatlantique SA bought a new stake in Solventum in the 4th quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC boosted its position 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 during the last quarter.

Solventum Stock Performance

Shares of SOLV traded down $0.35 during midday trading on Thursday, reaching $77.90. The stock had a trading volume of 474,266 shares, compared to its average volume of 1,123,536. The firm has a market cap of $13.48 billion, a PE ratio of 36.06, a P/E/G ratio of 1.99 and a beta of 0.55. The firm has a 50 day simple moving average of $72.22 and a 200-day simple moving average of $72.01. Solventum Corporation has a one year low of $47.16 and a one year high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

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

Analysts Set New Price Targets

SOLV has been the topic of a number of recent research reports. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Tuesday. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Solventum has a consensus rating of "Hold" and a consensus price target of $81.50.

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.