Parsons Capital Management Inc. RI Decreases Stake in Solventum Corporation $SOLV

Parsons Capital Management Inc. RI cut its holdings in Solventum Corporation (NYSE:SOLV) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 125,144 shares of the company’s stock after selling 211 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Solventum were worth $9,491,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in Solventum during the first quarter worth $25,000. Strengthening Families & Communities LLC boosted its position in Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company’s stock worth $25,000 after purchasing an additional 260 shares in the last quarter. Hara Capital LLC purchased a new stake in Solventum during the first quarter worth $38,000. Smartleaf Asset Management LLC boosted its position in Solventum by 193.4% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock worth $40,000 after purchasing an additional 352 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in Solventum during the first quarter worth $42,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SOLV. Wells Fargo & Company boosted their target price on Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. Argus upgraded Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. UBS Group started coverage on Solventum in a research report on Wednesday. They issued a “neutral” rating and a $77.00 price objective on the stock. Finally, Wall Street Zen downgraded Solventum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.60.

Solventum Stock Up 0.1%

Shares of NYSE:SOLV opened at $73.05 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The stock’s fifty day simple moving average is $72.81 and its 200-day simple moving average is $72.22. The company has a market capitalization of $12.67 billion, a P/E ratio of 33.82, a P/E/G ratio of 2.97 and a beta of 0.50.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.45 by $0.24. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, 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.