Solventum Corporation (NYSE:SOLV) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Solventum Corporation by 36.8% in Q1, selling 4,117 shares and holding 7,081 shares worth $538,000.
• Several analysts upgraded their ratings for Solventum, with Piper Sandler increasing their target price from $78.00 to $87.00 and Morgan Stanley lifting theirs from $80.00 to $103.00.
• Solventum reported a net margin of 4.55% and a return on equity of 31.01%, with Q1 revenue of $2.07 billion, exceeding analyst expectations of $2.02 billion.

Pacer Advisors Inc. lowered its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 36.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,081 shares of the company's stock after selling 4,117 shares during the period. Pacer Advisors Inc.'s holdings in Solventum were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Solventum during the 1st quarter worth approximately $25,000. Clarity Asset Management Inc. acquired a new stake in Solventum in the 4th quarter valued at approximately $25,000. Raiffeisen Bank International AG acquired a new stake in Solventum in the 4th quarter valued at approximately $29,000. Hara Capital LLC acquired a new stake in Solventum in the 1st quarter valued at approximately $38,000. Finally, Colonial Trust Co SC increased its holdings 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 purchasing an additional 361 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on SOLV shares. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. 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. KeyCorp started coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Solventum currently has an average rating of "Hold" and a consensus target price of $84.38.

Solventum Stock Performance

Shares of SOLV stock opened at $71.35 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 $54.26 and a 52 week high of $85.92. The stock has a market capitalization of $12.34 billion, a PE ratio of 33.03, a P/E/G ratio of 1.87 and a beta of 0.55. The firm has a 50 day moving average of $74.15 and a two-hundred day moving average of $73.01.

Solventum (NYSE:SOLV - Get Free Report) last issued 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. 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 analysts' expectations of $2.02 billion. During the same quarter last year, the company posted $2.08 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal 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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