Farther Finance Advisors LLC Increases Stake in Solventum Corporation (NYSE:SOLV)

Farther Finance Advisors LLC increased its holdings in shares of Solventum Corporation (NYSE:SOLV) by 140.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,821 shares of the company’s stock after purchasing an additional 1,064 shares during the quarter. Farther Finance Advisors LLC’s holdings in Solventum were worth $139,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SOLV. New York Life Investment Management LLC increased its holdings in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Solventum by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company’s stock worth $71,000 after purchasing an additional 171 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Solventum by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock valued at $348,000 after acquiring an additional 181 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after acquiring an additional 192 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley upped their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They set a “sector weight” rating for the company. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their target price on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.29.

Solventum Stock Up 1.2%

NYSE SOLV opened at $73.50 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock’s 50 day moving average is $70.66 and its two-hundred day moving average is $71.70. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 1.86 and a beta of 0.54. Solventum Corporation has a 1-year low of $47.16 and a 1-year high of $85.92.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. Solventum’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. Equities analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal 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.