US Bancorp DE Trims Stock Position in Solventum Corporation (NYSE:SOLV)

Key Points

• US Bancorp DE reduced its stake in Solventum Corporation (NYSE:SOLV) by 2.4%, now owning approximately 0.27% of the company's stock valued at $35,947,000.
• Several institutional investors significantly increased their positions in Solventum, with Trian Fund Management boosting its stake by 18.8% and Assenagon Asset Management increasing its stake by a remarkable 738.3%.
• Solventum reported earnings of $1.34 EPS for the last quarter, surpassing analysts' expectations of $1.19 EPS, with a revenue of $2.07 billion.

US Bancorp DE reduced its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 472,743 shares of the company's stock after selling 11,770 shares during the quarter. US Bancorp DE owned 0.27% of Solventum worth $35,947,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Clarity Asset Management Inc. acquired a new stake in Solventum in the 4th quarter valued at about $25,000. Rossby Financial LCC acquired a new stake in Solventum in the 1st quarter valued at about $25,000. Raiffeisen Bank International AG acquired a new stake in Solventum in the 4th quarter valued at about $29,000. Colonial Trust Co SC raised its holdings in Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after acquiring an additional 361 shares during the last quarter. Finally, Hara Capital LLC acquired a new stake in Solventum in the 1st quarter valued at about $38,000.

Analysts Set New Price Targets

A number of research firms have commented on SOLV. Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Argus upgraded shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Tuesday, July 1st. KeyCorp assumed coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $78.00 to $87.00 in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $84.38.

Solventum Stock Down 1.1%

SOLV stock traded down $0.80 during midday trading on Tuesday, hitting $72.42. The company's stock had a trading volume of 869,954 shares, compared to its average volume of 595,556. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 52-week low of $55.62 and a 52-week high of $85.92. The firm has a market capitalization of $12.53 billion, a P/E ratio of 33.53, a PEG ratio of 1.88 and a beta of 0.52. The firm has a 50-day simple moving average of $74.21 and a 200-day simple moving average of $73.03.

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