Man Group plc Increases Holdings in Solventum Co. (NYSE:SOLV)

Man Group plc boosted its holdings in shares of Solventum Co. (NYSE:SOLV) by 1,032.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,457 shares of the company’s stock after purchasing an additional 58,764 shares during the period. Man Group plc’s holdings in Solventum were worth $4,258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SOLV. Clarity Asset Management Inc. purchased a new position in shares of Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum during the 4th quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in shares of Solventum during the 4th quarter worth approximately $32,000. Colonial Trust Co SC grew its holdings in shares of Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after acquiring an additional 361 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of Solventum during the 4th quarter worth approximately $35,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $87.00 in a research report on Monday. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price target on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.29.

Solventum Stock Performance

SOLV stock opened at $72.84 on Thursday. The stock has a market capitalization of $12.60 billion and a PE ratio of 33.72. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock’s 50 day simple moving average is $69.85 and its 200 day simple moving average is $71.32.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. As a group, research analysts forecast that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Solventum Company 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.