Solventum Co. (NYSE:SOLV) Shares Acquired by Trian Fund Management L.P.

Trian Fund Management L.P. grew its stake in Solventum Co. (NYSE:SOLV) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,462,819 shares of the company’s stock after buying an additional 1,336,564 shares during the period. Solventum accounts for 14.4% of Trian Fund Management L.P.’s investment portfolio, making the stock its 3rd largest holding. Trian Fund Management L.P.’s holdings in Solventum were worth $559,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Forsta AP Fonden acquired a new stake in Solventum during the 4th quarter worth $1,876,000. New York State Teachers Retirement System lifted its stake in shares of Solventum by 4.0% in the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock worth $8,238,000 after acquiring an additional 4,819 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Solventum in the 4th quarter worth $990,000. Exchange Traded Concepts LLC lifted its stake in shares of Solventum by 1,593.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company’s stock worth $968,000 after acquiring an additional 13,785 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Solventum in the 4th quarter worth $18,583,000.

Solventum Stock Performance

Shares of SOLV opened at $74.08 on Monday. The company has a 50-day simple moving average of $69.79 and a 200-day simple moving average of $71.26. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $12.82 billion and a PE ratio of 34.30. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. Equities research analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SOLV shares. Mizuho raised their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Solventum from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.00.

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.