Solventum Corporation $SOLV Shares Purchased by Eastern Bank

Eastern Bank grew its holdings in Solventum Corporation (NYSE:SOLV) by 28.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206 shares of the company’s stock after buying an additional 267 shares during the quarter. Eastern Bank’s holdings in Solventum were worth $91,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SOLV. Independent Franchise Partners LLP lifted its holdings in Solventum by 263.1% in the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock valued at $442,608,000 after acquiring an additional 4,217,570 shares during the period. Davis Selected Advisers lifted its holdings in Solventum by 0.8% in the first quarter. Davis Selected Advisers now owns 5,288,138 shares of the company’s stock valued at $402,110,000 after acquiring an additional 41,524 shares during the period. Boston Partners lifted its stake in shares of Solventum by 101.3% in the first 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. Northern Trust Corp lifted its stake in shares of Solventum by 3.3% in the first quarter. Northern Trust Corp now owns 1,807,674 shares of the company’s stock valued at $137,456,000 after purchasing an additional 58,373 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Solventum by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,173,960 shares of the company’s stock valued at $89,268,000 after purchasing an additional 24,762 shares during the period.

Solventum Trading Down 1.8%

Shares of SOLV stock opened at $70.53 on Monday. The firm has a 50-day moving average price of $72.75 and a 200 day moving average price of $72.08. Solventum Corporation has a twelve month low of $60.70 and a twelve month high of $85.92. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.87 and a beta of 0.50. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SOLV shares. Piper Sandler reiterated an “overweight” rating and set a $94.00 price target (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. Wall Street Zen cut Solventum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 9th. Wells Fargo & Company lifted their price objective on Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Tuesday, July 1st. Finally, Morgan Stanley raised Solventum from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.89.

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.