State of Michigan Retirement System Has $3.10 Million Stake in Solventum Corporation $SOLV

State of Michigan Retirement System reduced its stake in shares of Solventum Corporation (NYSE:SOLV) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,851 shares of the company’s stock after selling 3,225 shares during the quarter. State of Michigan Retirement System’s holdings in Solventum were worth $3,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versor Investments LP grew its holdings in shares of Solventum by 161.3% in the 2nd quarter. Versor Investments LP now owns 36,844 shares of the company’s stock worth $2,794,000 after purchasing an additional 22,744 shares during the last quarter. Creekmur Asset Management LLC boosted its position in Solventum by 39.8% in the second quarter. Creekmur Asset Management LLC now owns 14,803 shares of the company’s stock valued at $1,123,000 after buying an additional 4,218 shares in the last quarter. Terril Brothers Inc. grew its stake in Solventum by 15.3% during the second quarter. Terril Brothers Inc. now owns 96,516 shares of the company’s stock worth $7,320,000 after buying an additional 12,800 shares during the last quarter. Strs Ohio increased its holdings in shares of Solventum by 38.5% during the second quarter. Strs Ohio now owns 26,055 shares of the company’s stock worth $1,976,000 after buying an additional 7,238 shares in the last quarter. Finally, Heritage Investors Management Corp increased its holdings in shares of Solventum by 15.8% during the second quarter. Heritage Investors Management Corp now owns 6,968 shares of the company’s stock worth $528,000 after buying an additional 950 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SOLV shares. Morgan Stanley upgraded Solventum from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. UBS Group began coverage on Solventum in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $77.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $94.00 target price (up from $87.00) on shares of Solventum in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Solventum in a research report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Solventum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.89.

Solventum Stock Down 1.3%

NYSE SOLV opened at $67.70 on Thursday. The stock has a market capitalization of $11.74 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 2.79 and a beta of 0.48. Solventum Corporation has a 52 week low of $60.70 and a 52 week high of $85.92. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The stock has a fifty day moving average of $72.13 and a 200-day moving average of $72.38.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.24. The business 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 earnings per share. On average, equities research analysts forecast that Solventum Corporation will post 6.58 EPS for the current year.

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.