North Star Investment Management Corp. Reduces Position in Solventum Co. (NYSE:SOLV)

North Star Investment Management Corp. trimmed its position in Solventum Co. (NYSE:SOLV) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,244 shares of the company’s stock after selling 346 shares during the quarter. North Star Investment Management Corp.’s holdings in Solventum were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Savant Capital LLC lifted its holdings in Solventum by 6.3% in the 4th quarter. Savant Capital LLC now owns 3,914 shares of the company’s stock worth $259,000 after buying an additional 233 shares during the period. Van ECK Associates Corp boosted its holdings in Solventum by 28.7% in the fourth quarter. Van ECK Associates Corp now owns 47,224 shares of the company’s stock valued at $3,120,000 after acquiring an additional 10,530 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Solventum by 2.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 54,877 shares of the company’s stock valued at $3,662,000 after purchasing an additional 1,280 shares during the period. Vontobel Holding Ltd. raised its holdings in Solventum by 11.6% in the 4th quarter. Vontobel Holding Ltd. now owns 5,292 shares of the company’s stock worth $350,000 after purchasing an additional 552 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Solventum by 4.0% during the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock valued at $8,238,000 after purchasing an additional 4,819 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on SOLV shares. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $87.00 in a research report on Monday, May 19th. The Goldman Sachs Group boosted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Bank of America increased their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, KeyCorp initiated coverage on shares of Solventum in a report on Friday, June 6th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.29.

Solventum Stock Up 0.9%

NYSE:SOLV opened at $74.44 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a market cap of $12.88 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.94 and a beta of 0.54. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The firm has a 50-day simple moving average of $70.21 and a two-hundred day simple moving average of $71.67.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business earned $2.08 EPS. Solventum’s revenue was up 2.7% on a year-over-year basis. Analysts predict that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

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.