OMERS ADMINISTRATION Corp Boosts Stake in Solventum Co. (NYSE:SOLV)

OMERS ADMINISTRATION Corp grew its stake in Solventum Co. (NYSE:SOLV) by 21.7% during the fourth quarter, HoldingsChannel reports. The fund owned 5,842 shares of the company’s stock after acquiring an additional 1,040 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Solventum were worth $386,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Solventum by 3.0% in the third quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock valued at $11,826,000 after purchasing an additional 4,896 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Solventum in the 4th quarter worth approximately $235,000. Strong Tower Advisory Services raised its stake in shares of Solventum by 7.4% during the 4th quarter. Strong Tower Advisory Services now owns 45,893 shares of the company’s stock worth $3,032,000 after acquiring an additional 3,168 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Solventum by 2.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 33,546 shares of the company’s stock valued at $2,216,000 after acquiring an additional 708 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its stake in Solventum by 137.5% in the fourth quarter. Global Trust Asset Management LLC now owns 570 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares in the last quarter.

Solventum Trading Up 2.3%

Shares of NYSE:SOLV opened at $75.81 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The stock has a market cap of $13.12 billion and a price-to-earnings ratio of 35.10. The business has a 50-day moving average price of $69.83 and a 200-day moving average price of $71.28.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SOLV. Morgan Stanley upped their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $87.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.29.

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.