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

Johnson Investment Counsel Inc. lessened its position in Solventum Corporation (NYSE:SOLV - Free Report) by 46.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,754 shares of the company's stock after selling 5,953 shares during the period. Johnson Investment Counsel Inc.'s holdings in Solventum were worth $514,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SOLV. Clarity Asset Management Inc. acquired a new position in shares of Solventum in the fourth quarter valued at approximately $25,000. Raiffeisen Bank International AG acquired a new position in shares of Solventum in the fourth quarter valued at approximately $29,000. Colonial Trust Co SC raised its position in shares of Solventum by 240.7% in the fourth 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 acquired a new position in shares of Solventum in the fourth quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Solventum by 48.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after buying an additional 223 shares during the last quarter.

Solventum Price Performance

SOLV opened at $73.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a 50 day moving average of $70.66 and a two-hundred day moving average of $71.71. The company has a market cap of $12.72 billion, a P/E ratio of 34.03, a P/E/G ratio of 1.88 and a beta of 0.54.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Solventum's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Solventum Corporation will post 6.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SOLV. KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. Wells Fargo & Company upped their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Bank of America upped their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $80.29.

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.

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