Gotham Asset Management LLC Has $12.60 Million Holdings in Solventum Co. (NYSE:SOLV)

Gotham Asset Management LLC raised its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,755 shares of the company's stock after buying an additional 3,694 shares during the quarter. Gotham Asset Management LLC owned about 0.11% of Solventum worth $12,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Solventum by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock valued at $1,074,591,000 after purchasing an additional 75,631 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Solventum by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after purchasing an additional 112,686 shares during the period. Norges Bank acquired a new stake in shares of Solventum during the fourth quarter worth about $203,740,000. Invesco Ltd. lifted its holdings in shares of Solventum by 6.4% during the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after purchasing an additional 176,201 shares during the period. Finally, Northern Trust Corp raised its position in Solventum by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,749,301 shares of the company's stock valued at $115,559,000 after acquiring an additional 309,077 shares in the last quarter.

Solventum Trading Down 3.5%

Shares of NYSE:SOLV traded down $2.57 during midday trading on Wednesday, reaching $70.95. The company's stock had a trading volume of 1,400,643 shares, compared to its average volume of 1,264,082. The firm has a market cap of $12.27 billion and a price-to-earnings ratio of 32.85. 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 1 year low of $47.16 and a 1 year high of $85.92. The business has a 50 day moving average price of $70.07 and a 200 day moving average price of $71.29.

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

Analysts Set New Price Targets

Several analysts recently commented on SOLV shares. Morgan Stanley boosted their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Piper Sandler dropped their price target on Solventum from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. 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. Finally, The Goldman Sachs Group lifted 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $79.00.

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.