State of New Jersey Common Pension Fund D Has $3.68 Million Stock Position in Solventum Corporation $SOLV

State of New Jersey Common Pension Fund D lifted its position in Solventum Corporation (NYSE:SOLV) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,499 shares of the company’s stock after acquiring an additional 2,018 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Solventum were worth $3,678,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. grew its position in Solventum by 720.7% during the 2nd quarter. Chelsea Counsel Co. now owns 10,595 shares of the company’s stock worth $804,000 after purchasing an additional 9,304 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Solventum by 84.6% during the second quarter. ST Germain D J Co. Inc. now owns 825 shares of the company’s stock valued at $63,000 after buying an additional 378 shares in the last quarter. CX Institutional grew its holdings in shares of Solventum by 11.7% during the second quarter. CX Institutional now owns 2,376 shares of the company’s stock valued at $180,000 after buying an additional 249 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Solventum during the second quarter valued at $71,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Solventum by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 63,719 shares of the company’s stock worth $4,832,000 after acquiring an additional 583 shares in the last quarter.

Solventum Stock Up 0.9%

Shares of SOLV stock opened at $72.08 on Tuesday. The stock’s 50 day simple moving average is $72.64 and its 200 day simple moving average is $72.24. Solventum Corporation has a twelve month low of $60.70 and a twelve month 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 company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.91 and a beta of 0.50.

Solventum (NYSE:SOLV) last announced its earnings results 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. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that Solventum Corporation will post 6.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SOLV. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (up previously from $87.00) on shares of Solventum in a research note on Friday, August 8th. Wells Fargo & Company boosted their price objective 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. Wall Street Zen lowered shares of Solventum from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 9th. Jefferies Financial Group started coverage on shares of Solventum in a research note on Thursday, September 11th. They set a “hold” rating and a $80.00 target price for the company. Finally, Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.