Stratos Wealth Partners LTD. Sells 4,355 Shares of Solventum Corporation (NYSE:SOLV)

Stratos Wealth Partners LTD. decreased its position in Solventum Corporation (NYSE:SOLV - Free Report) by 50.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,256 shares of the company's stock after selling 4,355 shares during the period. Stratos Wealth Partners LTD.'s holdings in Solventum were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SOLV. Vanguard Group Inc. raised its position in Solventum by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after buying an additional 75,631 shares during the last quarter. Trian Fund Management L.P. grew 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 valued at $559,054,000 after purchasing an additional 1,336,564 shares during the period. Geode Capital Management LLC grew its stake in shares of Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock valued at $227,992,000 after purchasing an additional 112,686 shares during the period. Norges Bank bought a new stake in shares of Solventum during the 4th quarter valued at about $203,740,000. Finally, Invesco Ltd. grew its stake in shares of Solventum by 6.4% during the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock valued at $193,101,000 after purchasing an additional 176,201 shares during the period.

Solventum Stock Performance

SOLV stock traded down $0.57 during trading on Friday, hitting $73.29. 584,156 shares of the company traded hands, compared to its average volume of 1,086,921. The stock's 50-day simple moving average is $74.19 and its 200 day simple moving average is $72.67. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. The company has a market cap of $12.68 billion, a PE ratio of 33.93, a P/E/G ratio of 1.89 and a beta of 0.55. Solventum Corporation has a 1 year low of $53.03 and a 1 year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. On average, equities analysts expect that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. KeyCorp assumed coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating on the stock. Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Morgan Stanley raised Solventum from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $80.00 to $103.00 in a report on Tuesday. Finally, Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $78.00 to $87.00 in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $84.38.

Solventum 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.