Solventum Corporation $SOLV Shares Bought by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in Solventum Corporation (NYSE:SOLV) by 16.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 836,106 shares of the company’s stock after buying an additional 115,145 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Solventum were worth $61,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CHICAGO TRUST Co NA lifted its holdings in Solventum by 3.0% in the third quarter. CHICAGO TRUST Co NA now owns 5,188 shares of the company’s stock valued at $379,000 after acquiring an additional 150 shares during the period. Applied Finance Capital Management LLC lifted its stake in shares of Solventum by 3.8% in the second quarter. Applied Finance Capital Management LLC now owns 4,428 shares of the company’s stock valued at $336,000 after purchasing an additional 162 shares during the period. Lazard Asset Management LLC boosted its holdings in Solventum by 1.4% during the second quarter. Lazard Asset Management LLC now owns 11,605 shares of the company’s stock worth $880,000 after buying an additional 163 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Solventum by 78.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock worth $27,000 after buying an additional 163 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Solventum by 2.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,963 shares of the company’s stock worth $436,000 after buying an additional 166 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SOLV shares. UBS Group reiterated a “neutral” rating on shares of Solventum in a research report on Friday, November 21st. Mizuho set a $100.00 price objective on Solventum and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a report on Tuesday, January 27th. KeyCorp raised Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 price target for the company in a research note on Monday, January 26th. Finally, Wall Street Zen lowered shares of Solventum from a “buy” rating to a “hold” rating in a research report on Saturday. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.83.

Solventum Trading Up 1.6%

NYSE SOLV opened at $78.20 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The company has a market cap of $13.56 billion, a P/E ratio of 9.01, a P/E/G ratio of 7.17 and a beta of 0.35. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $88.20. The company has a 50-day moving average of $80.72 and a 200-day moving average of $75.95.

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, beating the consensus estimate of $1.43 by $0.07. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a net margin of 18.13% and a return on equity of 28.01%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. As a group, equities analysts predict that Solventum Corporation will post 6.58 earnings per share for the current year.

Solventum announced that its Board of Directors has initiated a share buyback program on Thursday, November 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.