Solventum Corporation $SOLV Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC has reduced its stake in Solventum Corporation by 17.4%, now owning approximately 0.24% of the company valued at $31.6 million.
• Solventum reported $1.69 earnings per share for the last quarter, exceeding analysts' estimates, with revenues reaching $2.16 billion—a 3.8% increase year-over-year.
• Analyst ratings for Solventum include a mix of reviews, with one analyst rating it as a Strong Buy and an average price target of $85.44.

Wedge Capital Management L L P NC trimmed its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 17.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 416,853 shares of the company's stock after selling 87,539 shares during the period. Wedge Capital Management L L P NC owned 0.24% of Solventum worth $31,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Rossby Financial LCC purchased a new stake in shares of Solventum in the 1st quarter valued at approximately $25,000. Strengthening Families & Communities LLC grew its holdings in shares of Solventum by 376.8% during the 1st quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after purchasing an additional 260 shares during the period. Hara Capital LLC acquired a new stake in shares of Solventum during the 1st quarter worth about $38,000. Smartleaf Asset Management LLC lifted its position in Solventum by 193.4% in the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock valued at $40,000 after buying an additional 352 shares during the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of Solventum during the first quarter valued at about $42,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SOLV. Jefferies Financial Group initiated coverage on Solventum in a report on Thursday, September 11th. They issued a "hold" rating and a $80.00 price objective on the stock. KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating on the stock. 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 report on Tuesday, July 1st. Wall Street Zen cut Solventum from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 9th. Finally, Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Solventum currently has a consensus rating of "Hold" and an average target price of $85.44.

Solventum Stock Up 0.1%

Shares of SOLV traded up $0.07 during mid-day trading on Monday, reaching $73.79. 1,484,158 shares of the stock traded hands, compared to its average volume of 1,090,512. The stock has a fifty day simple moving average of $72.98 and a 200 day simple moving average of $72.35. Solventum Corporation has a 12-month low of $60.70 and a 12-month high of $85.92. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 3.00 and a beta of 0.53.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business's revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts expect that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum Company 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.