Wellington Management Group LLP Buys 19,233 Shares of Solventum Corporation $SOLV

Key Points

• Wellington Management Group LLP increased its stake in Solventum Corporation (NYSE:SOLV) by 226.2% in Q1, owning 27,737 shares worth over $2 million.
• Solventum reported a Q2 EPS of $1.69, exceeding estimates of $1.45, with revenues of $2.16 billion, which was also above analysts' expectations.
• Wells Fargo & Company raised their price target for Solventum shares from $75.00 to $79.00, while four analysts rated the stock as a Buy, indicating positive market sentiment.

Wellington Management Group LLP boosted its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 226.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,737 shares of the company's stock after acquiring an additional 19,233 shares during the quarter. Wellington Management Group LLP's holdings in Solventum were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC acquired a new stake in shares of Solventum during the first quarter worth about $25,000. Strengthening Families & Communities LLC lifted its stake in Solventum by 376.8% in the 1st quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in Solventum in the 4th quarter valued at $25,000. Raiffeisen Bank International AG acquired a new position in Solventum in the 4th quarter valued at $29,000. Finally, Hara Capital LLC acquired a new stake in shares of Solventum during the 1st quarter worth $38,000.

Solventum Stock Performance

NYSE:SOLV traded up $0.28 during mid-day trading on Friday, reaching $72.66. 162,064 shares of the company's stock were exchanged, compared to its average volume of 1,071,629. The firm has a market capitalization of $12.60 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.53. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. Solventum Corporation has a one year low of $60.70 and a one year high of $85.92. The business's fifty day simple moving average is $73.58 and its two-hundred day simple moving average is $72.78.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOLV. Piper Sandler reaffirmed an "overweight" rating and set a $94.00 price target (up previously from $87.00) on shares of Solventum in a research report on Friday, August 8th. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Wells Fargo & Company raised their price target on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. KeyCorp began coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. Finally, Wall Street Zen upgraded shares of Solventum from a "buy" rating to a "strong-buy" rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $85.75.

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.