Quantinno Capital Management LP Acquires 35,310 Shares of Solventum Corporation $SOLV

Quantinno Capital Management LP grew its holdings in Solventum Corporation (NYSE:SOLV) by 29.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 153,208 shares of the company’s stock after acquiring an additional 35,310 shares during the period. Quantinno Capital Management LP’s holdings in Solventum were worth $10,005,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Franchise Partners LLP boosted its position in shares of Solventum by 19.0% during the 4th quarter. Independent Franchise Partners LLP now owns 15,355,691 shares of the company’s stock valued at $1,216,785,000 after acquiring an additional 2,456,451 shares in the last quarter. Norges Bank acquired a new position in Solventum in the fourth quarter worth about $147,467,000. Diamond Hill Capital Management Inc. raised its position in Solventum by 152.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,109,027 shares of the company’s stock worth $167,119,000 after purchasing an additional 1,272,921 shares in the last quarter. Boston Partners lifted its stake in Solventum by 26.1% during the third quarter. Boston Partners now owns 4,630,300 shares of the company’s stock worth $338,006,000 after purchasing an additional 959,543 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Solventum by 20.0% during the fourth quarter. Geode Capital Management LLC now owns 4,588,728 shares of the company’s stock worth $362,375,000 after purchasing an additional 763,308 shares during the period.

Wall Street Analyst Weigh In

SOLV has been the topic of several analyst reports. UBS Group upgraded Solventum from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, July 28th. BTIG Research restated a “buy” rating and set a $91.00 target price on shares of Solventum in a research report on Monday, July 13th. Piper Sandler cut their target price on Solventum from $98.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Weiss Ratings raised Solventum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. Finally, Wells Fargo & Company lowered their price target on Solventum from $83.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target of $86.00.

Solventum Trading Down 0.0%

Shares of SOLV stock opened at $88.04 on Wednesday. Solventum Corporation has a 12-month low of $62.38 and a 12-month high of $88.65. The company has a market capitalization of $15.25 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.36 and a beta of 0.60. The firm has a 50-day moving average price of $78.87 and a 200 day moving average price of $74.31. The company has a quick ratio of 0.75, a current ratio of 1.07 and a debt-to-equity ratio of 0.96.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.13. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Solventum had a net margin of 17.33% and a return on equity of 23.51%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. Research 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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.