Independence Bank of Kentucky Sells 266 Shares of Solventum Corporation $SOLV

Independence Bank of Kentucky cut its holdings in shares of Solventum Corporation (NYSE:SOLV) by 21.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 957 shares of the company’s stock after selling 266 shares during the quarter. Independence Bank of Kentucky’s holdings in Solventum were worth $73,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SOLV. Independent Franchise Partners LLP increased its holdings in shares of Solventum by 263.1% during the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock worth $442,608,000 after purchasing an additional 4,217,570 shares during the period. Boston Partners increased its holdings in shares of Solventum by 101.3% during the first quarter. Boston Partners now owns 3,361,973 shares of the company’s stock worth $255,554,000 after purchasing an additional 1,691,565 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Solventum by 738.3% during the first quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock worth $43,086,000 after purchasing an additional 499,031 shares during the period. Nuveen LLC bought a new position in shares of Solventum during the first quarter worth approximately $35,375,000. Finally, Wedge Capital Management L L P NC increased its stake in Solventum by 570.0% in the first quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company’s stock valued at $38,354,000 after acquiring an additional 429,109 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating on the stock. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Piper Sandler reissued an “overweight” rating and issued a $94.00 price objective (up from $87.00) on shares of Solventum in a research note on Friday, August 8th. Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 15th. Finally, Wall Street Zen cut shares of Solventum from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.44.

Solventum Stock Performance

Shares of Solventum stock opened at $72.09 on Tuesday. Solventum Corporation has a fifty-two week low of $60.70 and a fifty-two week high of $85.92. 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 has a market capitalization of $12.50 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.90 and a beta of 0.53. The company’s 50 day moving average price is $72.83 and its two-hundred day moving average price is $72.21.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. Solventum’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Solventum 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.