Invenomic Capital Management LP Has $21.18 Million Holdings in Solventum Co. (NYSE:SOLV)

Invenomic Capital Management LP trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,609 shares of the company’s stock after selling 264,274 shares during the quarter. Solventum accounts for 1.0% of Invenomic Capital Management LP’s investment portfolio, making the stock its 23rd largest holding. Invenomic Capital Management LP’s holdings in Solventum were worth $21,179,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Solventum by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after purchasing an additional 4,896 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after buying an additional 9,333 shares in the last quarter. Czech National Bank raised its position in Solventum by 6.5% in the 4th quarter. Czech National Bank now owns 29,966 shares of the company’s stock valued at $1,980,000 after buying an additional 1,820 shares during the last quarter. Oak Thistle LLC bought a new position in Solventum during the 4th quarter valued at $512,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Solventum by 69.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 891 shares of the company’s stock worth $59,000 after acquiring an additional 366 shares during the last quarter.

Solventum Stock Performance

NYSE:SOLV opened at $70.22 on Friday. The business’s fifty day moving average is $70.17 and its 200 day moving average is $71.27. The firm has a market cap of $12.15 billion and a price-to-earnings ratio of 25.53. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $2.08 earnings per share. Solventum’s revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Solventum Co. will post 6.58 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on SOLV shares. Mizuho increased their target price on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Piper Sandler cut their target price on Solventum from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.00.

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.