Exchange Traded Concepts LLC Has $78,000 Holdings in Solventum Corporation (NYSE:SOLV)

Exchange Traded Concepts LLC lessened its holdings in Solventum Corporation (NYSE:SOLV) by 93.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,028 shares of the company’s stock after selling 13,622 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Solventum were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. CX Institutional purchased a new position in Solventum during the 1st quarter valued at about $162,000. Assenagon Asset Management S.A. raised 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 valued at $43,086,000 after acquiring an additional 499,031 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Solventum by 10.6% in the first quarter. Handelsbanken Fonder AB now owns 38,700 shares of the company’s stock worth $2,943,000 after purchasing an additional 3,700 shares during the period. Abacus FCF Advisors LLC grew its stake in Solventum by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 14,144 shares of the company’s stock worth $1,076,000 after purchasing an additional 385 shares during the period. Finally, GAMMA Investing LLC grew its stake in Solventum by 37.0% in the first quarter. GAMMA Investing LLC now owns 4,560 shares of the company’s stock worth $347,000 after purchasing an additional 1,231 shares during the period.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several analyst reports. Bank of America raised their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Mizuho raised their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. KeyCorp assumed coverage on Solventum in a research note on Friday, June 6th. They set a “sector weight” rating on the stock. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Finally, The Goldman Sachs Group boosted 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 analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus price target of $80.29.

Solventum Price Performance

Shares of SOLV stock opened at $74.95 on Wednesday. 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 has a market capitalization of $12.97 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 1.88 and a beta of 0.54. Solventum Corporation has a twelve month low of $47.16 and a twelve month high of $85.92. The stock has a fifty day simple moving average of $70.95 and a two-hundred day simple moving average of $71.77.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.08 earnings per share. On average, analysts predict that Solventum Corporation will post 6.58 EPS 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.