Vanguard Group Inc. Sells 42,992 Shares of Solventum Corporation (NYSE:SOLV)

Vanguard Group Inc. lessened its position in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,223,901 shares of the company's stock after selling 42,992 shares during the period. Vanguard Group Inc. owned approximately 9.38% of Solventum worth $1,233,665,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Costello Asset Management INC bought a new stake in shares of Solventum in the first quarter valued at approximately $42,000. Natixis Advisors LLC boosted its stake in shares of Solventum by 5.1% in the first quarter. Natixis Advisors LLC now owns 57,172 shares of the company's stock valued at $4,347,000 after buying an additional 2,766 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Solventum in the first quarter valued at approximately $4,452,000. XTX Topco Ltd raised its position in Solventum by 26.8% during the first quarter. XTX Topco Ltd now owns 6,417 shares of the company's stock valued at $488,000 after purchasing an additional 1,356 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in Solventum during the first quarter valued at approximately $49,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. KeyCorp assumed coverage on shares of Solventum in a research report on Friday, June 6th. They set a "sector weight" rating for the company. 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 research report on Tuesday, July 1st. Piper Sandler boosted their price objective on shares of Solventum from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $80.00 to $103.00 in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Solventum from $75.00 to $79.00 and gave the stock an "equal weight" rating in a report on Friday. 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.75.

Solventum Stock Performance

NYSE SOLV opened at $73.34 on Monday. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 1.81 and a beta of 0.52. Solventum Corporation has a twelve month low of $56.69 and a twelve month high of $85.92. The stock has a fifty day simple moving average of $74.21 and a 200 day simple moving average of $73.00. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%. Solventum's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Sell-side analysts expect that Solventum Corporation will post 6.58 EPS for the current year.

About Solventum

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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