BNP Paribas Financial Markets Has $16.17 Million Position in Solventum Co. (NYSE:SOLV)

BNP Paribas Financial Markets grew its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,699 shares of the company's stock after purchasing an additional 68,916 shares during the quarter. BNP Paribas Financial Markets owned about 0.14% of Solventum worth $16,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SOLV. Stonebridge Financial Group LLC bought a new position in Solventum during the fourth quarter valued at $26,000. Crews Bank & Trust bought a new stake in Solventum during the fourth quarter worth about $32,000. Synergy Asset Management LLC purchased a new position in Solventum in the 4th quarter worth $35,000. Spire Wealth Management purchased a new stake in shares of Solventum during the fourth quarter valued at approximately $37,000. Finally, Global Trust Asset Management LLC raised its stake in shares of Solventum by 137.5% during the fourth quarter. Global Trust Asset Management LLC now owns 570 shares of the company's stock valued at $38,000 after acquiring an additional 330 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Finally, Piper Sandler cut their price target on Solventum from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Solventum has a consensus rating of "Hold" and an average price target of $79.00.

Solventum Stock Down 3.5%

Shares of Solventum stock traded down $2.57 during midday trading on Wednesday, hitting $70.95. The company's stock had a trading volume of 1,400,643 shares, compared to its average volume of 1,147,613. The firm has a market capitalization of $12.27 billion and a P/E ratio of 32.85. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a 50-day simple moving average of $70.07 and a 200-day simple moving average of $71.29.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS 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 analyst estimates of $2.02 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

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.