Sumitomo Mitsui Trust Group Inc. Buys 22,937 Shares of Solventum Corporation $SOLV

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Solventum Corporation (NYSE:SOLV) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 318,907 shares of the company’s stock after acquiring an additional 22,937 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Solventum were worth $23,280,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. CYBER HORNET ETFs LLC bought a new position in Solventum in the second quarter valued at approximately $28,000. Barrett & Company Inc. boosted its holdings in shares of Solventum by 206.2% in the 2nd quarter. Barrett & Company Inc. now owns 398 shares of the company’s stock valued at $30,000 after buying an additional 268 shares during the last quarter. IMG Wealth Management Inc. bought a new position in shares of Solventum in the second quarter valued at $31,000. MUFG Securities EMEA plc acquired a new position in Solventum during the second quarter worth $31,000. Finally, State of Wyoming bought a new stake in Solventum during the second quarter worth $33,000.

Solventum Trading Down 1.1%

Shares of SOLV stock opened at $79.59 on Friday. Solventum Corporation has a 12-month low of $60.70 and a 12-month high of $88.20. The company has a market capitalization of $13.80 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 8.00 and a beta of 0.34. The firm has a 50 day moving average price of $81.09 and a two-hundred day moving average price of $75.64. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, November 6th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.43 by $0.07. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. As a group, analysts predict that Solventum Corporation will post 6.58 earnings per share for the current year.

Solventum announced that its Board of Directors has initiated a share buyback plan on Thursday, November 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Solventum from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Solventum in a report on Thursday, October 30th. Piper Sandler restated an “overweight” rating on shares of Solventum in a research note on Wednesday, December 17th. Wall Street Zen raised Solventum from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Zacks Research lowered Solventum from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.64.

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.