Solventum Corporation $SOLV Stake Increased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Solventum Corporation by 25.1% during the first quarter, now owning 134,622 shares worth approximately $10.24 million.
• Solventum reported a quarterly EPS of $1.69, exceeding analysts' expectations, with revenue of $2.16 billion up 3.8% year-over-year.
• Analysts have provided an upgraded consensus rating for Solventum, with a target price range between $79.00 and $103.00 after various upgrades in recent reports.

Adage Capital Partners GP L.L.C. boosted its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 25.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,622 shares of the company's stock after purchasing an additional 27,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.08% of Solventum worth $10,237,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SOLV. Independent Franchise Partners LLP grew its holdings in Solventum by 263.1% in the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company's stock valued at $442,608,000 after purchasing an additional 4,217,570 shares during the period. Boston Partners grew its holdings in Solventum by 101.3% in the first quarter. Boston Partners now owns 3,361,973 shares of the company's stock valued at $255,554,000 after purchasing an additional 1,691,565 shares during the period. Trian Fund Management L.P. grew its holdings in Solventum by 18.8% in the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after purchasing an additional 1,336,564 shares during the period. Assenagon Asset Management S.A. grew its holdings in Solventum by 738.3% in the first quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after purchasing an additional 499,031 shares during the period. Finally, Nuveen LLC acquired a new position in Solventum during the first quarter valued at approximately $35,375,000.

Solventum Stock Up 0.7%

Shares of NYSE SOLV traded up $0.53 during trading on Friday, reaching $74.32. 220,825 shares of the stock were exchanged, compared to its average volume of 1,073,200. The business's 50-day moving average price is $73.18 and its 200 day moving average price is $72.73. Solventum Corporation has a twelve month low of $60.70 and a twelve month high of $85.92. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 2.91 and a beta of 0.53.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities analysts forecast that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. KeyCorp assumed coverage on shares of Solventum in a research report on Friday, June 6th. They set a "sector weight" rating on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $94.00 price target (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. Wells Fargo & Company lifted their price target on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $80.00 to $103.00 in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Solventum presently has a consensus rating of "Hold" and a consensus target price of $85.11.

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.