Woodline Partners LP Acquires Shares of 8,300 Solventum Co. (NYSE:SOLV)

Woodline Partners LP acquired a new position in Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,300 shares of the company's stock, valued at approximately $548,000.

Other institutional investors also recently modified their holdings of the company. Clarity Asset Management Inc. purchased a new stake in Solventum in the fourth quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the fourth quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new stake in Solventum in the fourth quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in Solventum in the fourth quarter worth approximately $32,000. Finally, Colonial Trust Co SC boosted its stake in Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company's stock worth $34,000 after buying an additional 361 shares in the last quarter.

Solventum Trading Up 0.1%

SOLV stock traded up $0.05 on Wednesday, reaching $72.58. The company's stock had a trading volume of 988,302 shares, compared to its average volume of 1,242,123. The business has a fifty day simple moving average of $69.55 and a two-hundred day simple moving average of $71.26. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The firm has a market cap of $12.56 billion and a PE ratio of 33.60. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates 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. During the same period in the previous year, the business earned $2.08 EPS. The business's revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that Solventum Co. will post 6.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SOLV shares. Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Mizuho raised their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $80.29.

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.