Solventum Corporation (NYSE:SOLV) Shares Purchased by Welch & Forbes LLC

Welch & Forbes LLC grew its holdings in shares of Solventum Corporation (NYSE:SOLV) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,981 shares of the company’s stock after purchasing an additional 408 shares during the period. Welch & Forbes LLC’s holdings in Solventum were worth $303,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Solventum in the fourth quarter worth $203,740,000. Trian Fund Management L.P. increased its position in Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock valued at $559,054,000 after acquiring an additional 1,336,564 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after acquiring an additional 821,272 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock worth $43,086,000 after purchasing an additional 499,031 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Solventum by 570.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company’s stock worth $38,354,000 after purchasing an additional 429,109 shares during the last quarter.

Solventum Trading Up 1.2%

Shares of NYSE:SOLV opened at $73.90 on Friday. The company’s 50-day moving average price is $74.13 and its 200 day moving average price is $72.62. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. The company has a market cap of $12.79 billion, a PE ratio of 34.21, a P/E/G ratio of 1.87 and a beta of 0.55. Solventum Corporation has a fifty-two week low of $52.40 and a fifty-two week high of $85.92.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Solventum’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SOLV shares. Argus upgraded Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 1st. Morgan Stanley upgraded Solventum from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $103.00 in a research note on Tuesday. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Finally, KeyCorp began coverage on Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.38.

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.