Wedge Capital Management L L P NC Acquires 429,109 Shares of Solventum Co. (NYSE:SOLV)

Wedge Capital Management L L P NC increased its stake in shares of Solventum Co. (NYSE:SOLV) by 570.0% during the first quarter, HoldingsChannel reports. The fund owned 504,392 shares of the company’s stock after acquiring an additional 429,109 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Solventum were worth $38,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. New York Life Investment Management LLC grew its position 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 worth $1,223,000 after purchasing an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Solventum by 22.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company’s stock valued at $71,000 after buying an additional 171 shares during the period. EP Wealth Advisors LLC grew its position 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 buying an additional 181 shares in the last quarter. Avantax Advisory Services Inc. grew 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 buying an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after acquiring an additional 223 shares during the period.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of research reports. Bank of America raised their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.29.

Solventum Stock Performance

Shares of NYSE:SOLV opened at $74.83 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business’s fifty day moving average price is $69.36 and its two-hundred day moving average price is $71.54. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating the consensus estimate 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. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. As a group, analysts predict that Solventum Co. will post 6.58 EPS 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.