KLP Kapitalforvaltning AS Purchases 10,400 Shares of Solventum Corporation $SOLV

KLP Kapitalforvaltning AS grew its position in Solventum Corporation (NYSE:SOLV) by 20.2% during the second quarter, HoldingsChannel reports. The firm owned 61,965 shares of the company’s stock after buying an additional 10,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Solventum were worth $4,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Independent Franchise Partners LLP raised its position in shares of Solventum by 263.1% in the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock valued at $442,608,000 after purchasing an additional 4,217,570 shares during the period. Davis Selected Advisers raised its position in shares of Solventum by 0.8% in the first quarter. Davis Selected Advisers now owns 5,288,138 shares of the company’s stock valued at $402,110,000 after purchasing an additional 41,524 shares during the period. Boston Partners increased its position in Solventum by 101.3% during the first quarter. Boston Partners now owns 3,361,973 shares of the company’s stock worth $255,554,000 after acquiring an additional 1,691,565 shares during the period. Northern Trust Corp increased its position in Solventum by 3.3% during the first quarter. Northern Trust Corp now owns 1,807,674 shares of the company’s stock worth $137,456,000 after acquiring an additional 58,373 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Solventum by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,173,960 shares of the company’s stock valued at $89,268,000 after purchasing an additional 24,762 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SOLV. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a research note on Friday, August 8th. Jefferies Financial Group began coverage on shares of Solventum in a research note on Thursday, September 11th. They set a “hold” rating and a $80.00 target price for the company. UBS Group began coverage on shares of Solventum in a research note on Wednesday, October 1st. They set a “neutral” rating and a $77.00 target price for the company. Zacks Research upgraded shares of Solventum from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Argus upgraded shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.89.

Solventum Trading Down 1.8%

Shares of SOLV stock opened at $70.53 on Friday. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.92 and a beta of 0.50. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The firm has a fifty day moving average of $72.75 and a 200-day moving average of $72.11.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the company posted $1.56 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities research analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.