Worldquant Millennium Advisors LLC Has $4.22 Million Position in Solventum Co. (NYSE:SOLV)

Worldquant Millennium Advisors LLC lifted its holdings in Solventum Co. (NYSE:SOLV) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,842 shares of the company’s stock after purchasing an additional 16,177 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Solventum were worth $4,217,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. New York Life Investment Management LLC grew its holdings in 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 buying an additional 136 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after acquiring an additional 161 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Solventum by 3.6% in 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 during the last quarter. Avantax Advisory Services Inc. increased its position in Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after acquiring an additional 192 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Solventum by 48.1% during 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 during the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on SOLV. Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $78.00 to $87.00 in a report on Monday. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research 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 report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.29.

Solventum Stock Performance

NYSE:SOLV opened at $72.84 on Thursday. The firm has a market capitalization of $12.60 billion and a PE ratio of 33.72. 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. The firm has a 50-day moving average price of $69.85 and a 200 day moving average price of $71.32.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The company 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 company posted $2.08 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

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.