Solventum Corporation (NYSE:SOLV) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its holdings in Solventum Corporation (NYSE:SOLV) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,893 shares of the company’s stock after selling 895 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Solventum were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Solventum in the 4th quarter valued at about $203,740,000. Boston Partners purchased a new position in shares of Solventum in the 4th quarter valued at approximately $110,378,000. Trian Fund Management L.P. grew its stake in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock valued at $559,054,000 after purchasing an additional 1,336,564 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock valued at $105,904,000 after buying an additional 821,272 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock valued at $43,086,000 after buying an additional 499,031 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SOLV shares. 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 report on Monday, May 19th. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday. Finally, KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.50.

Solventum Stock Down 0.4%

Shares of Solventum stock opened at $77.90 on Friday. Solventum Corporation has a twelve month low of $47.16 and a twelve month high of $85.92. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 2.00 and a beta of 0.55. The business’s 50 day simple moving average is $72.43 and its 200-day simple moving average is $72.07. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

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