Solventum Corporation (NYSE:SOLV) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Solventum Corporation by 15.4%, selling 3,549 shares during the first quarter, leaving it with 19,475 shares valued at approximately $1.48 million.
• Several institutional investors have significantly increased their holdings in Solventum, including GAMMA Investing LLC, which boosted its stake by a remarkable 10,315.8% during the same period.
• Solventum reported an EPS of $1.34 for its latest quarter, beating the consensus estimate, with revenue of $2.07 billion, reflecting a year-over-year increase of 2.7%.

J. Safra Sarasin Holding AG cut its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 15.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,475 shares of the company's stock after selling 3,549 shares during the period. J. Safra Sarasin Holding AG's holdings in Solventum were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Trian Fund Management L.P. boosted its holdings in Solventum by 18.8% in 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 last quarter. Independent Franchise Partners LLP boosted its holdings in Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after buying an additional 821,272 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock worth $43,086,000 after buying an additional 499,031 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in 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 worth $38,354,000 after buying an additional 429,109 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Solventum by 10,315.8% in the 1st quarter. GAMMA Investing LLC now owns 346,742 shares of the company's stock worth $26,366,000 after buying an additional 343,413 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on SOLV. KeyCorp began coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Finally, Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Solventum presently has an average rating of "Hold" and an average price target of $84.38.

Solventum Stock Up 0.5%

SOLV stock opened at $71.73 on Monday. The firm has a market cap of $12.41 billion, a PE ratio of 33.21, a PEG ratio of 1.84 and a beta of 0.53. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. The firm's 50 day moving average price is $74.17 and its 200-day moving average price is $73.03. Solventum Corporation has a one year low of $54.26 and a one year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. On average, equities research analysts anticipate that Solventum Corporation will post 6.58 EPS for the current year.

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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