Vanguard Group Inc. Sells 42,992 Shares of Solventum Corporation (NYSE:SOLV)

Vanguard Group Inc. lowered its position in shares of Solventum Corporation (NYSE:SOLV) by 0.3% during the first quarter, HoldingsChannel.com reports. The fund owned 16,223,901 shares of the company’s stock after selling 42,992 shares during the quarter. Vanguard Group Inc. owned 0.09% of Solventum worth $1,233,665,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SOLV. Clarity Asset Management Inc. bought a new stake in Solventum during the fourth quarter valued at $25,000. Rossby Financial LCC bought a new stake in Solventum during the first quarter valued at $25,000. Raiffeisen Bank International AG bought a new stake in Solventum during the fourth quarter valued at $29,000. Colonial Trust Co SC boosted its position in Solventum by 240.7% during the fourth quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock valued at $34,000 after acquiring an additional 361 shares during the last quarter. Finally, Hara Capital LLC bought a new stake in Solventum during the first quarter valued at $38,000.

Solventum Trading Up 1.9%

SOLV opened at $73.34 on Monday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. Solventum Corporation has a fifty-two week low of $56.69 and a fifty-two week high of $85.92. The firm has a market capitalization of $12.69 billion, a PE ratio of 33.95, a P/E/G ratio of 1.81 and a beta of 0.52. The company’s 50-day moving average is $74.21 and its 200 day moving average is $73.00.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOLV has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Solventum from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday. Argus raised shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Wells Fargo & Company increased their price objective on shares of Solventum from $75.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Finally, KeyCorp initiated coverage on shares of Solventum in a research report on Friday, June 6th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Solventum currently has an average rating of “Hold” and an average target price of $85.75.

Solventum 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.