Philip James Wealth Mangement LLC Sells 5,223 Shares of Solventum Corporation $SOLV

Philip James Wealth Mangement LLC decreased its stake in shares of Solventum Corporation (NYSE:SOLV) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,325 shares of the company’s stock after selling 5,223 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Solventum were worth $3,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Independent Franchise Partners LLP increased its position in Solventum by 263.1% during the 1st quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock valued at $442,608,000 after purchasing an additional 4,217,570 shares during the period. Boston Partners increased its position in Solventum by 101.3% during the 1st quarter. Boston Partners now owns 3,361,973 shares of the company’s stock valued at $255,554,000 after purchasing an additional 1,691,565 shares during the period. Assenagon Asset Management S.A. increased its position in Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock valued at $43,086,000 after purchasing an additional 499,031 shares during the period. Nuveen LLC purchased a new position in Solventum during the 1st quarter valued at about $35,375,000. Finally, Wedge Capital Management L L P NC increased its position in Solventum by 570.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company’s stock valued at $38,354,000 after purchasing an additional 429,109 shares during the period.

Analysts Set New Price Targets

A number of research analysts have commented on SOLV shares. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $80.00 to $103.00 in a research report on Tuesday, July 15th. Wells Fargo & Company raised their target price on shares of Solventum from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, September 15th. Piper Sandler reissued an “overweight” rating and set a $94.00 target price (up previously from $87.00) on shares of Solventum in a research report on Friday, August 8th. UBS Group began coverage on shares of Solventum in a research report on Wednesday. They issued a “neutral” rating and a $77.00 price objective on the stock. Finally, Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.60.

Solventum Stock Up 0.1%

Shares of Solventum stock opened at $73.05 on Thursday. The firm’s 50 day moving average price is $72.81 and its 200-day moving average price is $72.22. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The company has a market cap of $12.67 billion, a P/E ratio of 33.82, a PEG ratio of 2.97 and a beta of 0.50.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, sell-side analysts predict that Solventum Corporation will post 6.58 EPS for the current fiscal 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.