Occudo Quantitative Strategies LP Has $5.67 Million Stake in Solventum Co. (NYSE:SOLV)

Occudo Quantitative Strategies LP lifted its stake in Solventum Co. (NYSE:SOLV - Free Report) by 343.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,797 shares of the company's stock after acquiring an additional 66,432 shares during the period. Solventum makes up 1.0% of Occudo Quantitative Strategies LP's portfolio, making the stock its 6th largest holding. Occudo Quantitative Strategies LP's holdings in Solventum were worth $5,668,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC grew its stake in shares of Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after purchasing an additional 136 shares during the period. Blue Trust Inc. grew its position in Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after acquiring an additional 161 shares during the period. EP Wealth Advisors LLC raised its stake in 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 acquiring an additional 181 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after acquiring an additional 192 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares in the last quarter.

Solventum Trading Up 1.6%

Shares of SOLV stock traded up $1.14 during trading hours on Friday, hitting $74.08. 824,004 shares of the company's stock traded hands, compared to its average volume of 1,250,463. The stock has a market cap of $12.82 billion and a PE ratio of 34.30. The stock's 50 day simple moving average is $69.83 and its 200 day simple moving average is $71.28. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on SOLV shares. Piper Sandler reduced their price target on shares of Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group upped 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. Bank of America lifted their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Solventum has an average rating of "Hold" and an average price target of $79.00.

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.