Solventum Corporation (NYSE:SOLV) Shares Purchased by Amalgamated Bank

Amalgamated Bank lifted its stake in Solventum Corporation (NYSE:SOLV) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,120 shares of the company’s stock after acquiring an additional 352 shares during the period. Amalgamated Bank’s holdings in Solventum were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Solventum by 17.1% in the 1st quarter. Bessemer Group Inc. now owns 1,963 shares of the company’s stock worth $150,000 after acquiring an additional 287 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Solventum in the 4th quarter worth approximately $18,583,000. Perigon Wealth Management LLC lifted its stake in shares of Solventum by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock worth $331,000 after acquiring an additional 159 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Solventum by 26.2% in the 4th quarter. Victory Capital Management Inc. now owns 67,654 shares of the company’s stock worth $4,469,000 after acquiring an additional 14,065 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Solventum by 140.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock worth $139,000 after acquiring an additional 1,064 shares during the period.

Solventum Trading Down 0.4%

Solventum stock opened at $77.90 on Monday. The company has a 50 day moving average price of $72.66 and a 200 day moving average price of $72.21. Solventum Corporation has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 2.01 and a beta of 0.55.

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

Analysts Set New Price Targets

Several research firms recently commented on SOLV. Argus raised shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. KeyCorp began coverage on shares of Solventum in a research note on Friday, June 6th. They set a “sector weight” rating for the company. Finally, Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and increased their target price for the company from $78.00 to $87.00 in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus target price of $81.50.

About Solventum

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.