Solventum Corporation (NYSE:SOLV) Position Reduced by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in shares of Solventum Corporation (NYSE:SOLV) by 21.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,445 shares of the company’s stock after selling 921 shares during the quarter. Fifth Third Bancorp’s holdings in Solventum were worth $262,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SOLV. Savant Capital LLC boosted its stake in Solventum by 6.3% during the 4th quarter. Savant Capital LLC now owns 3,914 shares of the company’s stock valued at $259,000 after acquiring an additional 233 shares during the last quarter. Van ECK Associates Corp boosted its stake in Solventum by 28.7% during the 4th quarter. Van ECK Associates Corp now owns 47,224 shares of the company’s stock valued at $3,120,000 after acquiring an additional 10,530 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Solventum by 2.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 54,877 shares of the company’s stock valued at $3,662,000 after acquiring an additional 1,280 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Solventum by 11.6% during the 4th quarter. Vontobel Holding Ltd. now owns 5,292 shares of the company’s stock valued at $350,000 after acquiring an additional 552 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Solventum by 4.0% during the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock valued at $8,238,000 after acquiring an additional 4,819 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on SOLV shares. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Bank of America lifted their price target on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $87.00 in a report on Monday, May 19th. Finally, Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.29.

Solventum Trading Down 0.3%

Shares of NYSE:SOLV opened at $72.53 on Thursday. The company has a market cap of $12.55 billion, a PE ratio of 33.58, a P/E/G ratio of 1.86 and a beta of 0.54. The company’s 50-day moving average price is $70.37 and its 200 day moving average price is $71.68. Solventum Corporation has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV) last issued its quarterly earnings data 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. Solventum’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.08 EPS. Sell-side analysts anticipate that Solventum Corporation will post 6.58 earnings per share 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.