Solventum Co. (NYSE:SOLV) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its holdings in Solventum Co. (NYSE:SOLV) by 92.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 34,165 shares of the company’s stock after buying an additional 16,394 shares during the period. Ensign Peak Advisors Inc’s holdings in Solventum were worth $2,257,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. New York Life Investment Management LLC boosted its holdings in shares of Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after buying an additional 136 shares during the period. Blue Trust Inc. boosted its holdings in shares of Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after buying an additional 161 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Solventum by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock valued at $348,000 after buying an additional 181 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Solventum by 48.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares during the period.

Solventum Stock Up 2.5%

SOLV stock opened at $72.93 on Friday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a market capitalization of $12.62 billion and a price-to-earnings ratio of 33.76. The firm’s 50-day moving average is $69.83 and its two-hundred day moving average is $71.28. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SOLV. Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. 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. Bank of America boosted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. One equities 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, Solventum has an average rating of “Hold” and an average 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.