Solventum Corporation (NYSE:SOLV) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 46.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,754 shares of the company's stock after selling 5,953 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Solventum were worth $514,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its position in Solventum by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 16,170 shares of the company's stock worth $1,229,000 after acquiring an additional 410 shares during the period. Grimes & Company Inc. acquired a new stake in shares of Solventum in the first quarter worth $221,000. Sowell Financial Services LLC acquired a new stake in Solventum during the 1st quarter worth about $335,000. CX Institutional acquired a new stake in shares of Solventum during the 1st quarter worth approximately $162,000. Finally, Assenagon Asset Management S.A. grew its position in Solventum by 738.3% during the first quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after buying an additional 499,031 shares during the period.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. KeyCorp began coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. Bank of America raised their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. 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 research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Solventum has a consensus rating of "Hold" and a consensus price target of $80.29.

Solventum Trading Down 0.1%

Shares of Solventum stock traded down $0.05 during trading hours on Wednesday, hitting $74.93. The company's stock had a trading volume of 553,830 shares, compared to its average volume of 1,148,573. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.92 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. Solventum Corporation has a twelve month low of $47.16 and a twelve month high of $85.92. The firm has a fifty day moving average of $70.95 and a 200-day moving average of $71.77.

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

Solventum Company 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.