683 Capital Management LLC Has $493,000 Holdings in Solventum Corporation $SOLV

683 Capital Management LLC trimmed its stake in Solventum Corporation (NYSE:SOLV) by 87.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,500 shares of the company’s stock after selling 43,500 shares during the period. 683 Capital Management LLC’s holdings in Solventum were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. Barrett & Company Inc. raised its holdings in Solventum by 206.2% in the 2nd quarter. Barrett & Company Inc. now owns 398 shares of the company’s stock valued at $30,000 after acquiring an additional 268 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in shares of Solventum during the second quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its stake in shares of Solventum by 193.4% in the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock valued at $40,000 after purchasing an additional 352 shares in the last quarter. MTM Investment Management LLC bought a new position in Solventum in the second quarter worth $40,000. Finally, SOA Wealth Advisors LLC. boosted its stake in Solventum by 1,397.3% during the second quarter. SOA Wealth Advisors LLC. now owns 554 shares of the company’s stock worth $42,000 after buying an additional 517 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. Wells Fargo & Company upped their target price on shares of Solventum from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. Wall Street Zen upgraded shares of Solventum from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group started coverage on Solventum in a report on Thursday, September 11th. They set a “hold” rating and a $80.00 price objective on the stock. Finally, Zacks Research cut Solventum from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.00.

Solventum Price Performance

Shares of SOLV stock opened at $82.96 on Friday. Solventum Corporation has a 52 week low of $60.70 and a 52 week high of $88.20. The stock has a market capitalization of $14.39 billion, a PE ratio of 9.56, a PEG ratio of 8.74 and a beta of 0.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50. The stock’s fifty day moving average is $75.96 and its 200-day moving average is $74.39.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.07. Solventum had a net margin of 18.13% and a return on equity of 28.01%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company posted $1.64 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. Equities research analysts expect that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum announced that its board has approved a stock buyback plan on Thursday, November 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.