Summit Global Investments Buys New Stake in Solventum Corporation $SOLV

Summit Global Investments purchased a new position in shares of Solventum Corporation (NYSE:SOLV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,599 shares of the company’s stock, valued at approximately $349,000.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Solventum by 0.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,974 shares of the company’s stock worth $2,577,000 after acquiring an additional 210 shares during the period. South Dakota Investment Council boosted its stake in Solventum by 3.6% during the 2nd quarter. South Dakota Investment Council now owns 255,625 shares of the company’s stock valued at $19,387,000 after purchasing an additional 8,960 shares in the last quarter. Chelsea Counsel Co. increased its position in shares of Solventum by 720.7% during the 2nd quarter. Chelsea Counsel Co. now owns 10,595 shares of the company’s stock valued at $804,000 after purchasing an additional 9,304 shares during the period. Purus Wealth Management LLC acquired a new position in shares of Solventum during the 2nd quarter valued at $252,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of Solventum by 84.6% in the 2nd quarter. ST Germain D J Co. Inc. now owns 825 shares of the company’s stock worth $63,000 after buying an additional 378 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SOLV shares. Wells Fargo & Company lifted their target price on Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. Jefferies Financial Group began coverage on shares of Solventum in a research report on Thursday, September 11th. They set a “hold” rating and a $80.00 price objective for the company. Wall Street Zen upgraded shares of Solventum from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler increased their target price on shares of Solventum from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, UBS Group restated a “neutral” rating on shares of Solventum in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.56.

Solventum Stock Performance

Shares of Solventum stock opened at $85.37 on Thursday. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $86.81. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03. The stock has a market cap of $14.81 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 9.05 and a beta of 0.48. The business has a fifty day simple moving average of $73.34 and a 200-day simple moving average of $73.49.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.07. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. On average, sell-side analysts anticipate that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.