Chevy Chase Trust Holdings LLC Raises Holdings in Solventum Corporation $SOLV

Chevy Chase Trust Holdings LLC grew its position in shares of Solventum Corporation (NYSE:SOLV) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 73,612 shares of the company’s stock after purchasing an additional 749 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Solventum were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Solventum by 0.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock valued at $1,500,000 after buying an additional 140 shares during the last quarter. Tradition Wealth Management LLC lifted its holdings in Solventum by 1.6% during the 1st quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock worth $671,000 after purchasing an additional 143 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Solventum by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock worth $331,000 after purchasing an additional 159 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings in Solventum by 3.8% during the 2nd quarter. Applied Finance Capital Management LLC now owns 4,428 shares of the company’s stock worth $336,000 after purchasing an additional 162 shares in the last quarter. Finally, SouthState Corp raised its holdings in shares of Solventum by 31.9% in the 1st quarter. SouthState Corp now owns 699 shares of the company’s stock valued at $53,000 after acquiring an additional 169 shares in the last quarter.

Solventum Price Performance

Shares of Solventum stock opened at $72.87 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $12.63 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.50. The business’s 50-day moving average price is $72.65 and its 200-day moving average price is $72.01. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $85.92.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.45 by $0.24. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts forecast that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SOLV shares. Morgan Stanley raised Solventum from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $103.00 in a report on Tuesday, July 15th. Wells Fargo & Company raised their price target on Solventum from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, September 15th. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Wall Street Zen cut Solventum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price target (up previously from $87.00) on shares of Solventum in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.89.

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.