Teacher Retirement System of Texas Acquires Shares of 66,767 Solventum Corporation (NYSE:SOLV)

Teacher Retirement System of Texas purchased a new position in Solventum Corporation (NYSE:SOLV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,767 shares of the company's stock, valued at approximately $5,077,000.

A number of other hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp grew 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 worth $222,000 after acquiring an additional 418 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Solventum by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company's stock worth $4,469,000 after purchasing an additional 14,065 shares during the last quarter. Atria Investments Inc lifted its stake in Solventum by 5.6% in the fourth quarter. Atria Investments Inc now owns 12,357 shares of the company's stock worth $816,000 after purchasing an additional 658 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Solventum in the fourth quarter worth about $1,545,000. Finally, Arizona State Retirement System raised its stake in shares of Solventum by 1.4% during the fourth quarter. Arizona State Retirement System now owns 42,639 shares of the company's stock valued at $2,817,000 after acquiring an additional 580 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on SOLV shares. KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They set a "sector weight" rating for the company. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. Finally, Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.50.

Solventum Price Performance

Shares of SOLV traded down $2.13 during mid-day trading on Friday, hitting $73.75. 715,871 shares of the company were exchanged, compared to its average volume of 1,111,350. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. The company has a 50 day moving average of $73.41 and a 200-day moving average of $72.37. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 1.90 and a beta of 0.55.

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

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.