Trian Fund Management L.P. Purchases 1,336,564 Shares of Solventum Co. (NYSE:SOLV)

Trian Fund Management L.P. raised its position in Solventum Co. (NYSE:SOLV - Free Report) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,462,819 shares of the company's stock after purchasing an additional 1,336,564 shares during the quarter. Solventum comprises 14.4% of Trian Fund Management L.P.'s investment portfolio, making the stock its 3rd biggest position. Trian Fund Management L.P. owned 4.90% of Solventum worth $559,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Clarity Asset Management Inc. acquired a new position in shares of Solventum in the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Solventum in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG acquired a new position in shares of Solventum in the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new position in shares of Solventum in the 4th quarter worth approximately $32,000. Finally, Colonial Trust Co SC lifted its holdings in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after acquiring an additional 361 shares during the last quarter.

Solventum Trading Up 1.6%

Shares of NYSE:SOLV opened at $74.08 on Monday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The company's 50 day moving average is $69.79 and its two-hundred day moving average is $71.26. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company has a market cap of $12.82 billion and a PE ratio of 34.30.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the company posted $2.08 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SOLV. Wells Fargo & Company upped their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Morgan Stanley upped their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Finally, Piper Sandler cut their target price on shares of Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.00.

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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