Solventum Co. (NYSE:SOLV) Position Lessened by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,131 shares of the company’s stock after selling 800 shares during the period. Investment Management Corp of Ontario’s holdings in Solventum were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Solventum by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock worth $1,074,591,000 after buying an additional 75,631 shares during the last quarter. Geode Capital Management LLC increased its position in Solventum by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock worth $227,992,000 after buying an additional 112,686 shares during the last quarter. Norges Bank acquired a new position in Solventum during the fourth quarter worth $203,740,000. Invesco Ltd. increased its position in Solventum by 6.4% during the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company’s stock worth $193,101,000 after buying an additional 176,201 shares during the last quarter. Finally, Northern Trust Corp increased its position in Solventum by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,749,301 shares of the company’s stock worth $115,559,000 after buying an additional 309,077 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SOLV. Mizuho raised their price target on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Piper Sandler lowered their price target on Solventum from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.00.

Solventum Stock Down 1.4%

NYSE SOLV opened at $73.73 on Wednesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a 50-day simple moving average of $70.07 and a 200 day simple moving average of $71.29. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The stock has a market cap of $12.76 billion and a PE ratio of 34.13.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Solventum Co. will post 6.58 EPS for the current 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.