Solventum Corporation $SOLV Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in Solventum Corporation (NYSE:SOLV) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 407,249 shares of the company’s stock after selling 10,521 shares during the quarter. Pzena Investment Management LLC’s holdings in Solventum were worth $35,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in shares of Solventum during the second quarter worth approximately $3,402,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Solventum in the 2nd quarter worth approximately $150,066,000. Squarepoint Ops LLC lifted its holdings in Solventum by 6,103.8% during the 2nd quarter. Squarepoint Ops LLC now owns 243,128 shares of the company’s stock worth $18,757,000 after buying an additional 239,209 shares in the last quarter. Lone Peak Global Investors LLC boosted its position in Solventum by 38.5% in the 2nd quarter. Lone Peak Global Investors LLC now owns 433,128 shares of the company’s stock valued at $33,416,000 after buying an additional 120,352 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Solventum in the 2nd quarter valued at $1,018,000.

Wall Street Analyst Weigh In

SOLV has been the topic of several research reports. Mizuho set a $113.00 price target on Solventum in a research note on Thursday, August 6th. BTIG Research reiterated a “buy” rating and issued a $95.00 price objective on shares of Solventum in a research report on Monday, September 14th. Wall Street Zen raised Solventum from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. KeyCorp upped their target price on shares of Solventum from $93.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Wedbush raised their target price on shares of Solventum from $94.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.55.

Solventum Stock Performance

SOLV stock opened at $89.14 on Thursday. Solventum Corporation has a twelve month low of $62.38 and a twelve month high of $94.16. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.00. The company has a market cap of $15.17 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. The business’s fifty day moving average is $87.84 and its 200-day moving average is $78.60.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.64. Solventum had a return on equity of 25.09% and a net margin of 17.26%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Solventum Corporation will post 7.21 EPS for the current year.

Solventum Profile

Solventum Corporation (NYSE: SOLV) is a global healthcare company that develops products and solutions intended to improve patient care, support healthcare professionals and enhance the efficiency of healthcare systems. Its offerings serve hospitals, clinics, dental practices, laboratories, manufacturers and other healthcare-related organizations.

The company’s portfolio includes medical and surgical products such as wound-care systems, dressings, skin-protection products, sterilization assurance products and solutions used in operating rooms.