State of Michigan Retirement System Has $3.10 Million Holdings in Solventum Corporation $SOLV

State of Michigan Retirement System lessened its position in Solventum Corporation (NYSE:SOLV) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,851 shares of the company’s stock after selling 3,225 shares during the quarter. State of Michigan Retirement System’s holdings in Solventum were worth $3,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independent Franchise Partners LLP grew its position in shares of Solventum by 263.1% in the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock valued at $442,608,000 after purchasing an additional 4,217,570 shares during the last quarter. Davis Selected Advisers grew its holdings in Solventum by 0.8% in the 1st quarter. Davis Selected Advisers now owns 5,288,138 shares of the company’s stock valued at $402,110,000 after buying an additional 41,524 shares during the last quarter. Boston Partners grew its holdings in Solventum by 101.3% in the 1st quarter. Boston Partners now owns 3,361,973 shares of the company’s stock valued at $255,554,000 after buying an additional 1,691,565 shares during the last quarter. Northern Trust Corp increased its position in Solventum by 3.3% in the 1st quarter. Northern Trust Corp now owns 1,807,674 shares of the company’s stock worth $137,456,000 after buying an additional 58,373 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Solventum by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,173,960 shares of the company’s stock worth $89,268,000 after buying an additional 24,762 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on SOLV. Wells Fargo & Company raised their price objective on shares of Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Jefferies Financial Group assumed coverage on shares of Solventum in a research report on Thursday, September 11th. They issued a “hold” rating and a $80.00 price target on the stock. UBS Group began coverage on shares of Solventum in a research report on Wednesday, October 1st. They set a “neutral” rating and a $77.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (up previously from $87.00) on shares of Solventum in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.89.

Solventum Stock Down 1.3%

SOLV opened at $67.70 on Thursday. The company has a market capitalization of $11.74 billion, a P/E ratio of 31.34, a P/E/G ratio of 2.79 and a beta of 0.48. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. The firm’s fifty day moving average price is $72.13 and its two-hundred day moving average price is $72.38. Solventum Corporation has a fifty-two week low of $60.70 and a fifty-two week high of $85.92.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Solventum Corporation will post 6.58 EPS for the current 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.