Solventum Corporation $SOLV Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its position in Solventum Corporation by 11.5%, owning 46,481 shares after selling 6,023 shares recently.
• Solventum recently reported better-than-expected quarterly earnings with an EPS of $1.69, surpassing analyst expectations of $1.45, along with a revenue of $2.16 billion.
• Analyst ratings for Solventum show a consensus rating of "Hold" with a target price averaging around $85.75, while some brokerages have upgraded their target prices following recent performance.

State of New Jersey Common Pension Fund D trimmed its position in Solventum Corporation (NYSE:SOLV - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,481 shares of the company's stock after selling 6,023 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Solventum were worth $3,534,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Solventum in the 1st quarter worth about $25,000. Strengthening Families & Communities LLC raised its holdings in shares of Solventum by 376.8% during 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 during the period. Clarity Asset Management Inc. purchased a new stake in shares of Solventum during the 4th quarter valued at about $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the 4th quarter valued at about $29,000. Finally, Hara Capital LLC purchased a new stake in shares of Solventum during the 1st quarter valued at about $38,000.

Analysts Set New Price Targets

Several brokerages recently commented on SOLV. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Wall Street Zen downgraded Solventum from a "strong-buy" rating to a "buy" rating in a report on Sunday. Piper Sandler reiterated an "overweight" rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a report on Friday, August 8th. Finally, Wells Fargo & Company raised their target price on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Four 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.75.

Solventum Stock Up 2.0%

NYSE SOLV traded up $1.46 during mid-day trading on Friday, reaching $73.46. 1,018,484 shares of the company's stock traded hands, compared to its average volume of 1,246,681. Solventum Corporation has a 1-year low of $59.35 and a 1-year high of $85.92. The company has a fifty day simple moving average of $73.79 and a 200-day simple moving average of $72.86. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 1.78 and a beta of 0.52.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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 return on equity of 29.93% and a net margin of 4.52%.The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm earned $1.56 EPS. Solventum's quarterly revenue was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities research analysts expect that Solventum Corporation will post 6.58 EPS for the current year.

Solventum Company 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.