Squarepoint Ops LLC Lowers Stock Position in Solventum Co. (NYSE:SOLV)

Squarepoint Ops LLC decreased its stake in Solventum Co. (NYSE:SOLV - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,831 shares of the company's stock after selling 68,215 shares during the period. Squarepoint Ops LLC's holdings in Solventum were worth $3,028,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Solventum in the 4th quarter valued at approximately $203,740,000. Boston Partners acquired a new stake in Solventum in the fourth quarter valued at $110,378,000. Trian Fund Management L.P. raised its position in 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 purchasing an additional 1,336,564 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in Solventum by 105.0% during the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after buying an additional 821,272 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Solventum by 41.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock worth $78,833,000 after buying an additional 347,669 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SOLV shares. Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $78.00 to $87.00 in a research note on Monday, May 19th. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $80.29.

Solventum Stock Up 0.6%

NYSE:SOLV traded up $0.43 during trading hours on Friday, reaching $73.04. The company had a trading volume of 4,073,029 shares, compared to its average volume of 1,226,780. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm has a market cap of $12.64 billion and a price-to-earnings ratio of 33.81. The business's 50-day simple moving average is $69.45 and its two-hundred day simple moving average is $71.32.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. On average, equities analysts expect that Solventum Co. will post 6.58 earnings per share 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.