Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Solventum Corporation (NYSE:SOLV)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 43.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 19,638 shares of the company's stock after acquiring an additional 5,961 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Solventum were worth $1,493,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Proficio Capital Partners LLC purchased a new stake in Solventum in the fourth quarter valued at approximately $1,545,000. Metis Global Partners LLC boosted its position in Solventum by 6.3% in the fourth quarter. Metis Global Partners LLC now owns 4,728 shares of the company's stock valued at $312,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Solventum by 14.2% in the fourth quarter. Jones Financial Companies Lllp now owns 3,366 shares of the company's stock valued at $222,000 after buying an additional 418 shares during the last quarter. Victory Capital Management Inc. boosted its position in Solventum by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company's stock valued at $4,469,000 after buying an additional 14,065 shares during the last quarter. Finally, Atria Investments Inc boosted its position in Solventum by 5.6% in the fourth quarter. Atria Investments Inc now owns 12,357 shares of the company's stock valued at $816,000 after buying an additional 658 shares during the last quarter.

Solventum Trading Down 0.4%

Shares of NYSE:SOLV opened at $77.90 on Friday. Solventum Corporation has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a market capitalization of $13.48 billion, a PE ratio of 36.06, a PEG ratio of 2.01 and a beta of 0.55. The business has a 50 day moving average of $72.66 and a two-hundred day moving average of $72.14. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $2.08 earnings per share. Solventum's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts forecast that Solventum Corporation will post 6.58 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on SOLV shares. KeyCorp started coverage on Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Tuesday. Finally, Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and upped their target price for the company from $78.00 to $87.00 in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Solventum currently has a consensus rating of "Hold" and an average target price of $81.50.

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.

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