DNB Asset Management AS Purchases 1,143 Shares of Solventum Corporation $SOLV

DNB Asset Management AS boosted its position in shares of Solventum Corporation (NYSE:SOLV) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,123 shares of the company’s stock after purchasing an additional 1,143 shares during the quarter. DNB Asset Management AS’s holdings in Solventum were worth $2,133,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SOLV. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Solventum by 0.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock valued at $1,500,000 after buying an additional 140 shares during the last quarter. Tradition Wealth Management LLC lifted its position in Solventum by 1.6% in the 1st quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock valued at $671,000 after acquiring an additional 143 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Solventum by 3.8% during the 2nd quarter. Applied Finance Capital Management LLC now owns 4,428 shares of the company’s stock valued at $336,000 after purchasing an additional 162 shares during the last quarter. SouthState Corp increased its holdings in shares of Solventum by 31.9% in the 1st quarter. SouthState Corp now owns 699 shares of the company’s stock worth $53,000 after purchasing an additional 169 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in shares of Solventum by 5.6% in the second quarter. HB Wealth Management LLC now owns 3,463 shares of the company’s stock worth $263,000 after purchasing an additional 185 shares during the last quarter.

Solventum Price Performance

Shares of NYSE:SOLV opened at $85.79 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $14.88 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 8.80 and a beta of 0.48. The firm’s 50 day moving average price is $73.12 and its 200-day moving average price is $73.41. Solventum Corporation has a twelve month low of $60.70 and a twelve month high of $86.28.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, November 6th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a net margin of 18.13% and a return on equity of 28.01%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. Equities research analysts expect that Solventum Corporation will post 6.58 EPS for the current year.

Solventum declared that its board has authorized a stock buyback plan on Thursday, November 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen raised Solventum from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a report on Monday, September 15th. Wells Fargo & Company lifted their price target on shares of Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Piper Sandler increased their price objective on shares of Solventum from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Solventum has an average rating of “Hold” and an average price target of $85.56.

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.