Newtyn Management LLC Decreases Stake in Solventum Co. (NYSE:SOLV)

Newtyn Management LLC trimmed its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 67.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,529 shares of the company's stock after selling 338,088 shares during the quarter. Solventum makes up 1.9% of Newtyn Management LLC's holdings, making the stock its 17th biggest holding. Newtyn Management LLC owned approximately 0.10% of Solventum worth $10,869,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp increased its holdings in Solventum by 21.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 5,842 shares of the company's stock worth $386,000 after purchasing an additional 1,040 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Solventum by 343.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 85,797 shares of the company's stock worth $5,668,000 after purchasing an additional 66,432 shares in the last quarter. Mubadala Investment Co PJSC bought a new position in shares of Solventum in the 4th quarter worth $3,568,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Solventum by 254.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 432,309 shares of the company's stock worth $28,558,000 after purchasing an additional 310,217 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Solventum by 2.9% in the 4th quarter. Janus Henderson Group PLC now owns 11,374 shares of the company's stock worth $752,000 after purchasing an additional 317 shares in the last quarter.

Solventum Price Performance

NYSE:SOLV traded up $0.98 during mid-day trading on Monday, reaching $75.09. The stock had a trading volume of 314,057 shares, compared to its average volume of 1,136,143. The firm has a 50 day moving average price of $69.79 and a two-hundred day moving average price of $71.26. The stock has a market capitalization of $12.99 billion and a P/E ratio of 34.72. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. 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 released its 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 firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. As a group, analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SOLV shares. Bank of America increased their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and set a $87.00 price target for the company in a research report on Monday. Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group raised their target price on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Finally, Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Solventum has an average rating of "Hold" and a consensus 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.