Bank of New York Mellon Corp Sells 64,397 Shares of Solventum Corporation $SOLV

Bank of New York Mellon Corp decreased its stake in shares of Solventum Corporation (NYSE:SOLV) by 7.0% during the second quarter, HoldingsChannel.com reports. The fund owned 857,478 shares of the company’s stock after selling 64,397 shares during the period. Bank of New York Mellon Corp’s holdings in Solventum were worth $65,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Solventum by 0.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock worth $1,500,000 after purchasing an additional 140 shares during the period. Tradition Wealth Management LLC lifted its stake in shares of Solventum by 1.6% in the first quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock worth $671,000 after buying an additional 143 shares during the last quarter. Applied Finance Capital Management LLC boosted its holdings in shares of Solventum by 3.8% during the 2nd quarter. Applied Finance Capital Management LLC now owns 4,428 shares of the company’s stock worth $336,000 after buying an additional 162 shares during the period. SouthState Corp grew its stake in Solventum by 31.9% in the 1st quarter. SouthState Corp now owns 699 shares of the company’s stock valued at $53,000 after buying an additional 169 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Solventum by 5.6% in the 2nd quarter. HB Wealth Management LLC now owns 3,463 shares of the company’s stock worth $263,000 after acquiring an additional 185 shares during the period.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Solventum from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a research report on Thursday, October 30th. Jefferies Financial Group began coverage on Solventum in a report on Thursday, September 11th. They issued a “hold” rating and a $80.00 target price on the stock. Zacks Research upgraded Solventum from a “hold” rating to a “strong-buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen cut Solventum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Solventum presently has a consensus rating of “Hold” and an average price target of $85.33.

Solventum Trading Up 7.8%

Solventum stock opened at $71.48 on Monday. The business has a 50 day moving average price of $71.97 and a two-hundred day moving average price of $72.48. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $85.92. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.07. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.Solventum’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 earnings per share. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. As a group, equities 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.