Jacobs Levy Equity Management Inc. Has $28.56 Million Stock Holdings in Solventum Co. (NYSE:SOLV)

Jacobs Levy Equity Management Inc. increased its holdings in Solventum Co. (NYSE:SOLV) by 254.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 432,309 shares of the company’s stock after purchasing an additional 310,217 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.25% of Solventum worth $28,558,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden bought a new stake in Solventum during the fourth quarter worth about $1,876,000. New York State Teachers Retirement System grew its stake in Solventum by 4.0% during the fourth quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock worth $8,238,000 after buying an additional 4,819 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Solventum during the fourth quarter worth about $990,000. Exchange Traded Concepts LLC grew its stake in Solventum by 1,593.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company’s stock worth $968,000 after buying an additional 13,785 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Solventum during the fourth quarter worth about $18,583,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SOLV. Mizuho upped their price objective 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. Bank of America upped their price objective 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. Morgan Stanley upped their price objective 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. Wells Fargo & Company upped their price objective 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. Finally, Piper Sandler decreased their price target on shares of Solventum from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target of $79.00.

Solventum Price Performance

SOLV opened at $70.22 on Monday. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company’s 50 day simple moving average is $70.17 and its 200-day simple moving average is $71.26. The stock has a market capitalization of $12.15 billion and a P/E ratio of 25.53.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the company earned $2.08 earnings per share. Solventum’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Solventum Co. 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.