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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trian Fund Management L.P. increased its position 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 worth $559,054,000 after purchasing an additional 1,336,564 shares during the period. Davis Selected Advisers grew its position in shares of Solventum by 0.8% during the 1st quarter. Davis Selected Advisers now owns 5,288,138 shares of the company's stock worth $402,110,000 after buying an additional 41,524 shares during the period. Boston Partners grew its position in shares of Solventum by 101.3% during the 1st quarter. Boston Partners now owns 3,361,973 shares of the company's stock worth $255,554,000 after buying an additional 1,691,565 shares during the period. Northern Trust Corp grew its position in shares of Solventum by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,807,674 shares of the company's stock worth $137,456,000 after buying an additional 58,373 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Solventum by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,173,960 shares of the company's stock worth $89,268,000 after buying an additional 24,762 shares during the period.

Wall Street Analyst Weigh In

SOLV has been the subject of several analyst reports. Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a research report on Monday. Morgan Stanley upgraded 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 research report on Tuesday, July 15th. KeyCorp initiated coverage on Solventum in a research report on Friday, June 6th. They set a "sector weight" rating for the company. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company boosted their target price on Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $85.75.

Solventum Stock Down 0.7%

NYSE SOLV traded down $0.49 during trading on Wednesday, hitting $71.33. The stock had a trading volume of 804,348 shares, compared to its average volume of 1,079,006. The company has a market capitalization of $12.37 billion, a PE ratio of 33.02, a P/E/G ratio of 1.77 and a beta of 0.53. The company's 50-day moving average price is $73.70 and its two-hundred day moving average price is $72.80. 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 12 month low of $60.70 and a 12 month high of $85.92.

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

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.