Solventum Corporation (NYSE:SOLV) Shares Sold by American Investment Services Inc.

Key Points

• American Investment Services Inc. reduced its stake in Solventum Corporation by 35.7% during the first quarter, leaving it with 6,534 shares valued at approximately $497,000.
• Several hedge funds increased their holdings in Solventum, with Boston Partners raising its position by 101.3% and Assenagon Asset Management increasing by 738.3% in the same period.
• Solventum reported a quarterly earnings per share of $1.69, surpassing analysts' expectations, and had a net margin of 4.52% with revenues of $2.16 billion.

American Investment Services Inc. cut its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 35.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,534 shares of the company's stock after selling 3,620 shares during the quarter. American Investment Services Inc.'s holdings in Solventum were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SOLV. Boston Partners increased its position in shares of Solventum by 101.3% in the 1st quarter. Boston Partners now owns 3,361,973 shares of the company's stock valued at $255,554,000 after purchasing an additional 1,691,565 shares during the last quarter. Trian Fund Management L.P. increased its position in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after purchasing an additional 1,336,564 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after purchasing an additional 499,031 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Solventum in the 1st quarter valued at approximately $35,375,000. Finally, Wedge Capital Management L L P NC increased its position in shares of Solventum by 570.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock valued at $38,354,000 after purchasing an additional 429,109 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SOLV. KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. 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. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Wells Fargo & Company upped their target price on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Solventum from a "buy" rating to a "strong-buy" rating in a report on Saturday. One analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.75.

Solventum Stock Down 2.3%

Shares of NYSE:SOLV opened at $71.50 on Friday. The stock has a market cap of $12.40 billion, a P/E ratio of 33.10, a P/E/G ratio of 1.77 and a beta of 0.52. The firm has a fifty day moving average price of $74.02 and a 200 day moving average price of $72.94. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. Solventum Corporation has a 1-year low of $58.61 and a 1-year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. Solventum's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 EPS. 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.

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