Solventum Corporation $SOLV Shares Acquired by Versor Investments LP

Key Points

• Versor Investments LP significantly increased its stake in Solventum Corporation (SOLV) by 254.6%, now owning 14,100 shares valued at $1,072,000.
• Solventum Corporation's stock has received multiple upgrades from analysts, including a target price increase from $80.00 to $103.00 by Morgan Stanley, shifting from a neutral to an overweight rating.
• Despite strong quarterly earnings, the stock remains volatile and is currently down 2.3%, trading at $71.50 with a 52-week high of $85.92.

Versor Investments LP lifted its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 254.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,100 shares of the company's stock after buying an additional 10,124 shares during the quarter. Versor Investments LP's holdings in Solventum were worth $1,072,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SOLV. Boston Partners raised its stake 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. Trian Fund Management L.P. raised its stake in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after buying an additional 1,336,564 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock worth $43,086,000 after buying an additional 499,031 shares during the period. Nuveen LLC acquired a new position in shares of Solventum during the 1st quarter worth approximately $35,375,000. Finally, Wedge Capital Management L L P NC raised its stake in shares of Solventum by 570.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock worth $38,354,000 after buying an additional 429,109 shares during the period.

Analysts Set New Price Targets

SOLV has been the subject of several research analyst reports. Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. KeyCorp began coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating for the company. Wall Street Zen raised Solventum from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Wells Fargo & Company increased their price objective on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.75.

Solventum Stock Down 2.3%

Shares of SOLV opened at $71.50 on Monday. Solventum Corporation has a 52-week low of $58.61 and a 52-week high of $85.92. The company has a market capitalization of $12.40 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52. The stock has a fifty day simple moving average of $74.02 and a two-hundred day simple moving average of $72.92. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14.

Solventum (NYSE:SOLV - Get Free Report) last issued its 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. Solventum had a return on equity of 29.93% and a net margin of 4.52%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the company earned $1.56 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities 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.

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