Solventum Co. (NYSE:SOLV) Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in Solventum Co. (NYSE:SOLV) by 738.3% in the first quarter, HoldingsChannel.com reports. The firm owned 566,623 shares of the company’s stock after purchasing an additional 499,031 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Solventum were worth $43,086,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. bought a new stake in shares of Solventum in the 4th quarter worth $25,000. Stonebridge Financial Group LLC acquired a new position in Solventum during the fourth quarter worth about $26,000. Raiffeisen Bank International AG bought a new stake in Solventum in the fourth quarter worth about $29,000. Colonial Trust Co SC raised its position in Solventum by 240.7% in the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after acquiring an additional 361 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Solventum in the 4th quarter valued at about $42,000.

Solventum Trading Down 0.3%

NYSE:SOLV opened at $74.15 on Friday. The company has a market capitalization of $12.83 billion, a P/E ratio of 34.33, a P/E/G ratio of 1.94 and a beta of 0.54. The stock’s 50 day moving average price is $69.77 and its 200 day moving average price is $71.64. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SOLV. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $78.00 to $87.00 in a report on Monday, May 19th. The Goldman Sachs Group boosted their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Finally, KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Solventum currently has an average rating of “Hold” and a consensus price target of $80.29.

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.