Worldquant Millennium Advisors LLC Grows Position in Solventum Co. (NYSE:SOLV)

Worldquant Millennium Advisors LLC grew its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,842 shares of the company's stock after purchasing an additional 16,177 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Solventum were worth $4,217,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. bought a new stake in shares of Solventum in the 4th quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the 4th quarter valued at $26,000. Raiffeisen Bank International AG bought a new stake in shares of Solventum in the 4th quarter valued at $29,000. Crews Bank & Trust bought a new stake in shares of Solventum in the 4th quarter valued at $32,000. Finally, Colonial Trust Co SC increased its stake in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company's stock valued at $34,000 after acquiring an additional 361 shares in the last quarter.

Solventum Stock Up 2.0%

Shares of NYSE SOLV traded up $1.40 during trading on Tuesday, hitting $72.21. The stock had a trading volume of 220,061 shares, compared to its average volume of 1,145,586. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market capitalization of $12.49 billion and a PE ratio of 33.41. The firm has a fifty day moving average of $69.60 and a two-hundred day moving average of $71.25.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. Solventum's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. As a group, equities research analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SOLV shares. Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $78.00 to $87.00 in a research note on Monday, May 19th. The Goldman Sachs Group boosted their price target on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Mizuho boosted their price target on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Wells Fargo & Company boosted 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. Finally, Bank of America boosted 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Solventum presently has an average rating of "Hold" and a consensus price target 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.