Woodline Partners LP Makes New Investment in Solventum Co. (NYSE:SOLV)

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

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Solventum by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after purchasing an additional 75,631 shares in the last quarter. Trian Fund Management L.P. boosted its stake in Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after acquiring an additional 1,336,564 shares during the last quarter. Geode Capital Management LLC boosted its stake in Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after acquiring an additional 112,686 shares during the last quarter. Norges Bank bought a new position in Solventum during the 4th quarter worth approximately $203,740,000. Finally, Invesco Ltd. boosted its stake in Solventum by 6.4% during the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after acquiring an additional 176,201 shares during the last quarter.

Solventum Stock Up 0.6%

Shares of SOLV stock traded up $0.43 during trading on Friday, reaching $73.04. The company's stock had a trading volume of 4,073,029 shares, compared to its average volume of 1,226,780. The business has a fifty day moving average price of $69.45 and a 200-day moving average price of $71.30. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a market cap of $12.64 billion and a price-to-earnings ratio of 33.81. Solventum Co. has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $2.02 billion. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. Analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current year.

Analyst Ratings Changes

SOLV has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Piper Sandler raised shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, Bank of America lifted their price target on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $80.29.

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.