Gotham Asset Management LLC Purchases 28,504 Shares of Solventum Corporation $SOLV

Key Points

• Gotham Asset Management LLC increased its position in Solventum Corporation by 14.9%, owning 219,259 shares, valued at approximately $16.67 million.
• Solventum's stock opened at $72.70 with a market capitalization of $12.61 billion and reported $1.69 earnings per share, beating expectations.
• Several analysts upgraded Solventum's stock ratings, with the consensus price target now at $85.75 and multiple firms issuing "buy" ratings.

Gotham Asset Management LLC grew its position in Solventum Corporation (NYSE:SOLV - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,259 shares of the company's stock after purchasing an additional 28,504 shares during the period. Gotham Asset Management LLC owned about 0.13% of Solventum worth $16,672,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SOLV. Independent Franchise Partners LLP increased its position in Solventum by 263.1% in the 1st quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company's stock worth $442,608,000 after purchasing an additional 4,217,570 shares during the last quarter. Boston Partners increased its holdings in shares of Solventum by 101.3% during the 1st quarter. Boston Partners now owns 3,361,973 shares of the company's stock valued at $255,554,000 after acquiring an additional 1,691,565 shares during the last quarter. Trian Fund Management L.P. increased its holdings 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 valued at $559,054,000 after acquiring an additional 1,336,564 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings 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 valued at $43,086,000 after acquiring an additional 499,031 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Solventum during the 1st quarter valued at about $35,375,000.

Solventum Stock Performance

SOLV traded down $1.66 during midday trading on Tuesday, reaching $72.94. The company's stock had a trading volume of 930,094 shares, compared to its average volume of 1,076,658. The stock has a market cap of $12.65 billion, a P/E ratio of 33.77, a PEG ratio of 2.97 and a beta of 0.53. The company has a fifty day simple moving average of $73.50 and a 200 day simple moving average of $72.76. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. Solventum Corporation has a twelve month low of $60.70 and a twelve 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The company's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts expect that Solventum Corporation will post 6.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOLV. 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 report on Friday, August 8th. Wall Street Zen lowered Solventum from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Piper Sandler reissued an "overweight" rating and set a $94.00 price objective (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. KeyCorp began coverage on Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Finally, Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Solventum presently has a consensus rating of "Hold" and a consensus target price of $85.75.

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.