Solventum Corporation (NYSE:SOLV) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,613 shares of the company's stock after selling 3,366 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Solventum were worth $3,468,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SOLV. CX Institutional acquired a new stake in Solventum in the 1st quarter valued at $162,000. Assenagon Asset Management S.A. raised 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 worth $43,086,000 after acquiring an additional 499,031 shares during the period. Handelsbanken Fonder AB lifted its holdings in Solventum by 10.6% during the first quarter. Handelsbanken Fonder AB now owns 38,700 shares of the company's stock valued at $2,943,000 after purchasing an additional 3,700 shares in the last quarter. Abacus FCF Advisors LLC grew its position in shares of Solventum by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 14,144 shares of the company's stock valued at $1,076,000 after purchasing an additional 385 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Solventum by 37.0% in the first quarter. GAMMA Investing LLC now owns 4,560 shares of the company's stock valued at $347,000 after purchasing an additional 1,231 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SOLV shares. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and increased their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Mizuho boosted their price target on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.29.

Solventum Price Performance

Shares of SOLV stock traded up $0.35 during trading hours on Monday, reaching $75.81. The company had a trading volume of 750,457 shares, compared to its average volume of 1,127,882. Solventum Corporation has a 12-month low of $47.16 and a 12-month high of $100.00. 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 company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 1.93 and a beta of 0.54. The stock has a fifty day moving average of $71.48 and a 200-day moving average of $71.89.

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