SG Americas Securities LLC Has $408,000 Holdings in Solventum Corporation (NYSE:SOLV)

SG Americas Securities LLC cut its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 72.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,366 shares of the company's stock after selling 13,817 shares during the quarter. SG Americas Securities LLC's holdings in Solventum were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOLV. New York Life Investment Management LLC lifted its position in shares of Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after purchasing an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Solventum by 22.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock worth $71,000 after acquiring an additional 171 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Solventum by 3.6% in the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock valued at $348,000 after purchasing an additional 181 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock worth $584,000 after purchasing an additional 192 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after buying an additional 223 shares in the last quarter.

Solventum Trading Down 0.1%

Shares of SOLV stock traded down $0.05 on Wednesday, reaching $74.93. The company had a trading volume of 553,077 shares, compared to its average volume of 1,150,484. The stock has a market cap of $12.96 billion, a PE ratio of 34.69, a PEG ratio of 1.88 and a beta of 0.54. The company has a 50-day moving average of $70.95 and a 200-day moving average of $71.77. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 12 month low of $47.16 and a 12 month high of $85.92.

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

Wall Street Analysts Forecast Growth

SOLV has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. KeyCorp initiated coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.29.

About Solventum

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.