Victory Capital Management Inc. Grows Holdings in Solventum Corporation (NYSE:SOLV)

Key Points

• Victory Capital Management Inc. boosted its stake in Solventum Corporation by 45.2%, acquiring an additional 30,610 shares to bring its total holdings to 98,264 shares, valued at approximately $7.47 million.
• Several other institutional investors have also increased their positions in Solventum, indicating renewed interest in the company among hedge funds and investment groups.
• After a series of upgrades from analysts, Solventum's stock has an average rating of "Hold" with a consensus target price of $84.38, reflecting positive sentiment in the market.

Victory Capital Management Inc. raised its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 45.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,264 shares of the company's stock after acquiring an additional 30,610 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Solventum worth $7,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SOLV. Perigon Wealth Management LLC increased its stake in Solventum by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after acquiring an additional 159 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Solventum by 22.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock valued at $71,000 after purchasing an additional 171 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Solventum by 3.6% in the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock worth $348,000 after buying an additional 181 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in Solventum by 22.0% during the first quarter. Brown Lisle Cummings Inc. now owns 1,038 shares of the company's stock worth $79,000 after purchasing an additional 187 shares in the last quarter. Finally, Calamos Advisors LLC raised its holdings in shares of Solventum by 1.1% during the first quarter. Calamos Advisors LLC now owns 18,620 shares of the company's stock valued at $1,416,000 after acquiring an additional 207 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Argus raised Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Tuesday, July 1st. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and raised their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. Finally, KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $84.38.

Solventum Trading Down 0.8%

NYSE:SOLV traded down $0.59 during mid-day trading on Monday, hitting $74.17. 135,474 shares of the company's stock were exchanged, compared to its average volume of 1,053,420. The firm has a market capitalization of $12.83 billion, a P/E ratio of 34.30, a PEG ratio of 1.91 and a beta of 0.55. Solventum Corporation has a fifty-two week low of $54.26 and a fifty-two week high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a 50 day simple moving average of $74.23 and a 200-day simple moving average of $72.94.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results 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. 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 analyst estimates of $2.02 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business's revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Solventum Corporation will post 6.58 earnings per share 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.