10,585 Shares in Solventum Corporation (NYSE:SOLV) Purchased by Creekmur Asset Management LLC

Creekmur Asset Management LLC acquired a new position in shares of Solventum Corporation (NYSE:SOLV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,585 shares of the company’s stock, valued at approximately $805,000.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of Solventum in the first quarter valued at approximately $216,000. Bessemer Group Inc. boosted its position in shares of Solventum by 17.1% in the first quarter. Bessemer Group Inc. now owns 1,963 shares of the company’s stock valued at $150,000 after acquiring an additional 287 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Solventum by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock valued at $331,000 after acquiring an additional 159 shares during the period. Raymond James Financial Inc. bought a new position in shares of Solventum in the fourth quarter valued at approximately $18,583,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Solventum by 140.6% in the first quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock valued at $139,000 after acquiring an additional 1,064 shares during the period.

Solventum Stock Up 1.7%

Shares of NYSE SOLV opened at $74.30 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40. Solventum Corporation has a 52 week low of $52.40 and a 52 week high of $85.92. The firm’s fifty day moving average is $74.13 and its 200 day moving average is $72.62. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.87 and a beta of 0.55.

Solventum (NYSE:SOLV) last issued its quarterly earnings data 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 business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. On average, equities research analysts expect that Solventum Corporation will post 6.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOLV. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Morgan Stanley upgraded shares of Solventum from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $103.00 in a research report on Tuesday. Argus raised shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, July 1st. Finally, KeyCorp began coverage on shares of Solventum in a research note on Friday, June 6th. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $84.38.

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.