Raiffeisen Bank International AG Takes Position in Solventum Co. (NYSE:SOLV)

Raiffeisen Bank International AG acquired a new stake in shares of Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 443 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds also recently made changes to their positions in SOLV. Norges Bank acquired a new stake in shares of Solventum during the fourth quarter worth approximately $203,740,000. Boston Partners acquired a new stake in shares of Solventum during the fourth quarter worth approximately $110,378,000. Independent Franchise Partners LLP grew its position in shares of Solventum by 105.0% during the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after buying an additional 821,272 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company’s stock worth $78,833,000 after buying an additional 347,669 shares in the last quarter. Finally, Candlestick Capital Management LP grew its position in shares of Solventum by 67.7% during the fourth quarter. Candlestick Capital Management LP now owns 802,606 shares of the company’s stock worth $53,020,000 after buying an additional 323,920 shares in the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $78.00 to $87.00 in a research report on Monday. Mizuho raised their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Bank of America raised their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Solventum has a consensus rating of “Hold” and a consensus target price of $80.29.

Solventum Stock Performance

Solventum stock opened at $75.81 on Tuesday. The company has a market cap of $13.12 billion and a PE ratio of 35.10. The company has a fifty day moving average price of $69.83 and a two-hundred day moving average price of $71.28. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 12 month low of $47.16 and a 12 month 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, topping analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. Research analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

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.