Exchange Traded Concepts LLC Grows Position in Solventum Co. (NYSE:SOLV)

Exchange Traded Concepts LLC lifted its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 1,593.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,650 shares of the company's stock after purchasing an additional 13,785 shares during the quarter. Exchange Traded Concepts LLC's holdings in Solventum were worth $968,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Trian Fund Management L.P. boosted its holdings in shares of Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp boosted its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock valued at $425,818,000 after buying an additional 185,938 shares in the last quarter. Geode Capital Management LLC grew its position in Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company's stock valued at $232,608,000 after acquiring an additional 128,317 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Solventum during the third quarter worth about $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Solventum by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company's stock worth $73,469,000 after acquiring an additional 3,745 shares during the last quarter.

Solventum Trading Down 1.7 %

Shares of NYSE SOLV traded down $1.25 during midday trading on Friday, reaching $74.05. The stock had a trading volume of 1,091,969 shares, compared to its average volume of 937,219. The company's 50 day moving average price is $70.17 and its 200 day moving average price is $67.21. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.23). The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Analysts forecast that Solventum Co. will post 6.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SOLV shares. Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price objective for the company. Piper Sandler upped their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Mizuho assumed coverage on Solventum in a report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price objective on the stock. Finally, Morgan Stanley upped their target price on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Solventum currently has a consensus rating of "Hold" and an average price target of $68.29.

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.