Solventum Corporation $SOLV Stock: Pzena Investment Management LLC Lowers Holdings

Pzena Investment Management LLC reduced its stake in shares of Solventum Corporation (NYSE:SOLV) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407,249 shares of the company’s stock after selling 10,521 shares during the quarter. Pzena Investment Management LLC owned 0.24% of Solventum worth $35,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. Rakuten Investment Management Inc. raised its holdings in Solventum by 3.9% in the 3rd quarter. Rakuten Investment Management Inc. now owns 16,563 shares of the company’s stock valued at $1,479,000 after acquiring an additional 622 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Solventum in the 3rd quarter worth approximately $3,249,000. ProShare Advisors LLC grew its holdings in shares of Solventum by 9.0% during the 3rd quarter. ProShare Advisors LLC now owns 33,224 shares of the company’s stock worth $2,929,000 after purchasing an additional 2,733 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Solventum by 147.7% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 32,700 shares of the company’s stock worth $2,883,000 after purchasing an additional 19,500 shares in the last quarter. Finally, Choreo LLC grew its holdings in shares of Solventum by 2.9% during the 3rd quarter. Choreo LLC now owns 12,910 shares of the company’s stock worth $1,138,000 after purchasing an additional 368 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOLV. Wall Street Zen upgraded shares of Solventum from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Canadian Imperial Bank of Commerce set a $35.00 price objective on shares of Solventum in a research note on Wednesday, October 28th. Piper Sandler raised their price objective on shares of Solventum from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Stifel Nicolaus upped their target price on shares of Solventum from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wedbush increased their price target on shares of Solventum from $94.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Solventum Price Performance

Shares of SOLV stock opened at $89.14 on Thursday. The stock’s fifty day simple moving average is $87.84 and its 200 day simple moving average is $78.60. Solventum Corporation has a one year low of $62.38 and a one year high of $94.16. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.24 and a beta of 0.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.02 and a quick ratio of 0.74.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.64. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.15 billion. Solventum had a return on equity of 25.09% and a net margin of 17.26%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 earnings per share. On average, analysts expect that Solventum Corporation will post 7.21 earnings per share for the current fiscal year.

Solventum Company Profile

Solventum Corporation (NYSE: SOLV) is a global healthcare company that develops products and solutions intended to improve patient care, support healthcare professionals and enhance the efficiency of healthcare systems. Its offerings serve hospitals, clinics, dental practices, laboratories, manufacturers and other healthcare-related organizations.

The company’s portfolio includes medical and surgical products such as wound-care systems, dressings, skin-protection products, sterilization assurance products and solutions used in operating rooms.