IMG Wealth Management Inc. Takes Position in Solventum Corporation $SOLV

IMG Wealth Management Inc. bought a new stake in shares of Solventum Corporation (NYSE:SOLV) in the second quarter, Holdings Channel reports. The fund bought 412 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Rossby Financial LCC acquired a new position in Solventum during the first quarter valued at $25,000. Strengthening Families & Communities LLC lifted its position in Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company’s stock valued at $25,000 after purchasing an additional 260 shares during the period. Barrett & Company Inc. raised its position in shares of Solventum by 206.2% during the 2nd quarter. Barrett & Company Inc. now owns 398 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Solventum during the 1st quarter worth about $38,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Solventum by 193.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock worth $40,000 after purchasing an additional 352 shares during the last quarter.

Solventum Stock Performance

Solventum stock opened at $72.87 on Tuesday. The firm has a 50 day simple moving average of $72.65 and a 200-day simple moving average of $72.01. Solventum Corporation has a 1-year low of $60.70 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.50.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.24. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, analysts expect that Solventum Corporation will post 6.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Jefferies Financial Group began coverage on shares of Solventum in a research note on Thursday, September 11th. They set a “hold” rating and a $80.00 price objective for the company. UBS Group began coverage on shares of Solventum in a research note on Wednesday, October 1st. They set a “neutral” rating and a $77.00 price objective for the company. Finally, Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.89.

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.