South Dakota Investment Council Sells 19,914 Shares of Solventum Corporation (NYSE:SOLV)

South Dakota Investment Council reduced its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,665 shares of the company's stock after selling 19,914 shares during the period. South Dakota Investment Council owned 0.14% of Solventum worth $18,756,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new stake in shares of Solventum in the 1st quarter worth approximately $216,000. Bessemer Group Inc. increased its stake in shares of Solventum by 17.1% in the 1st quarter. Bessemer Group Inc. now owns 1,963 shares of the company's stock worth $150,000 after acquiring an additional 287 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Solventum by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after acquiring an additional 159 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Solventum during the 4th quarter valued at about $18,583,000. Finally, Farther Finance Advisors LLC grew its position in Solventum by 140.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company's stock valued at $139,000 after purchasing an additional 1,064 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Solventum Trading Down 0.8%

NYSE SOLV traded down $0.57 during trading hours on Friday, hitting $73.29. 584,156 shares of the company's stock were exchanged, compared to its average volume of 1,080,834. The firm has a market capitalization of $12.68 billion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 1.88 and a beta of 0.55. 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 business's 50 day moving average is $74.19 and its 200-day moving average is $72.71. Solventum Corporation has a 12-month low of $53.03 and a 12-month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. As a group, analysts anticipate that Solventum Corporation will post 6.58 EPS for the current fiscal 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.