Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in Solventum Corporation (NYSE:SOLV)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Solventum Corporation (NYSE:SOLV) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 319,689 shares of the company’s stock after selling 586 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Solventum worth $24,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its holdings in shares of Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock valued at $331,000 after purchasing an additional 159 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Solventum by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company’s stock valued at $71,000 after purchasing an additional 171 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Solventum by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock valued at $348,000 after buying an additional 181 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in Solventum by 22.0% during the first quarter. Brown Lisle Cummings Inc. now owns 1,038 shares of the company’s stock valued at $79,000 after buying an additional 187 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares during the last quarter.

Solventum Price Performance

Shares of NYSE:SOLV opened at $78.21 on Thursday. 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 fifty day moving average price of $72.22 and a 200 day moving average price of $72.01. Solventum Corporation has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 1.99 and a beta of 0.55.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share 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 in the prior year, the business earned $2.08 earnings per share. Solventum’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and upped their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. Morgan Stanley upped their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. 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 report on Tuesday. Finally, KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.50.

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.