Kentucky Retirement Systems Insurance Trust Fund Takes Position in Solventum Corporation (NYSE:SOLV)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Solventum Corporation (NYSE:SOLV) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 4,030 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors have also recently modified their holdings of SOLV. Raymond James Financial Inc. purchased a new position in Solventum during the fourth quarter worth $18,583,000. Victory Capital Management Inc. boosted its stake in shares of Solventum by 26.2% during the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company’s stock valued at $4,469,000 after acquiring an additional 14,065 shares during the last quarter. Farther Finance Advisors LLC increased its position in Solventum by 140.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock worth $139,000 after purchasing an additional 1,064 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after purchasing an additional 192 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Solventum by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 171,376 shares of the company’s stock valued at $11,321,000 after purchasing an additional 1,761 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating for the company. Piper Sandler upgraded Solventum from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $78.00 to $87.00 in a report on Monday, May 19th. Bank of America raised their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.29.

Solventum Stock Down 0.1%

Shares of SOLV opened at $74.93 on Thursday. Solventum Corporation has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company’s fifty day moving average is $71.13 and its two-hundred day moving average is $71.80. The firm has a market cap of $12.96 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54. The company has a quick ratio of 0.85, a current ratio of 1.19 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current 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.