Worldquant Millennium Advisors LLC Has $4.22 Million Position in Solventum Co. (NYSE:SOLV)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Solventum in the 4th quarter worth about $203,740,000. Boston Partners acquired a new position in shares of Solventum in the 4th quarter valued at about $110,378,000. Trian Fund Management L.P. lifted its position in shares of Solventum by 18.8% in the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after purchasing an additional 1,336,564 shares in the last quarter. Independent Franchise Partners LLP lifted its position in shares of Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock worth $105,904,000 after purchasing an additional 821,272 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock worth $78,833,000 after purchasing an additional 347,669 shares during the period.

Solventum Price Performance

NYSE SOLV opened at $72.84 on Thursday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The stock's 50-day moving average is $69.85 and its two-hundred day moving average is $71.32. The firm has a market cap of $12.60 billion and a P/E ratio of 33.72. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company posted $2.08 EPS. The business's revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on SOLV. Morgan Stanley increased their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $78.00 to $87.00 in a research note on Monday. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, Mizuho lifted their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Solventum 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.

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