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Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Solventum Corporation (NYSE:SOLV)

Solventum logo with Medical background

Key Points

  • Zurcher Kantonalbank reduced its holdings in Solventum Corporation by 4.7%, selling 5,284 shares during the first quarter, and now owns approximately 106,473 shares worth about $8.1 million.
  • Several institutional investors have recently increased their stakes in Solventum, with Thrivent Financial boosting its stake by 37.9% and American Century Companies increasing its holdings by 43.2% during the fourth quarter.
  • Analysts have raised price targets for Solventum, with Argus setting a target of $90 and Morgan Stanley raising theirs from $80 to $103, indicating a positive outlook for the company.
  • Interested in Solventum? Here are five stocks we like better.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Solventum Corporation (NYSE:SOLV - Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,473 shares of the company's stock after selling 5,284 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Solventum worth $8,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC lifted its holdings in shares of Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after purchasing an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Solventum by 22.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock worth $71,000 after acquiring an additional 171 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Solventum by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock worth $348,000 after purchasing an additional 181 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Solventum by 22.0% during the first quarter. Brown Lisle Cummings Inc. now owns 1,038 shares of the company's stock worth $79,000 after purchasing an additional 187 shares during the last quarter. Finally, Calamos Advisors LLC lifted its position in Solventum by 1.1% during the first quarter. Calamos Advisors LLC now owns 18,620 shares of the company's stock valued at $1,416,000 after purchasing an additional 207 shares during the period.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of recent research reports. Piper Sandler upgraded 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. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Tuesday, July 1st. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Finally, KeyCorp assumed coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $84.38.

Check Out Our Latest Research Report on Solventum

Solventum Price Performance

SOLV traded up $0.37 during midday trading on Friday, hitting $71.73. 780,679 shares of the company traded hands, compared to its average volume of 560,246. The business has a 50 day simple moving average of $74.17 and a two-hundred day simple moving average of $73.02. Solventum Corporation has a 52-week low of $54.26 and a 52-week high of $85.92. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 1.83 and a beta of 0.53. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Solventum Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Solventum (NYSE:SOLV)

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