Solventum Corporation $SOLV Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in shares of Solventum Corporation (NYSE:SOLV) by 85.3% during the third quarter, Holdings Channel.com reports. The fund owned 143,609 shares of the company’s stock after acquiring an additional 66,100 shares during the quarter. Allianz Asset Management GmbH’s holdings in Solventum were worth $10,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SOLV. Deseret Mutual Benefit Administrators boosted its position in shares of Solventum by 78.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock valued at $27,000 after purchasing an additional 163 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Solventum during the second quarter valued at approximately $28,000. IMG Wealth Management Inc. bought a new stake in Solventum during the second quarter worth approximately $31,000. MUFG Securities EMEA plc acquired a new position in Solventum in the second quarter worth approximately $31,000. Finally, State of Wyoming acquired a new position in Solventum in the second quarter worth approximately $33,000.

Solventum Stock Performance

SOLV stock opened at $78.20 on Monday. The firm has a 50 day simple moving average of $80.72 and a 200 day simple moving average of $75.96. Solventum Corporation has a 52 week low of $60.70 and a 52 week high of $88.20. The stock 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. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 6th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.07. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum had a net margin of 18.13% and a return on equity of 28.01%. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Solventum declared that its Board of Directors has approved a share repurchase plan on Thursday, November 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SOLV shares. Zacks Research lowered Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a report on Tuesday, January 27th. KeyCorp upgraded shares of Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 target price for the company in a report on Monday, January 26th. Finally, BTIG Research upgraded shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, December 2nd. Seven research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.83.

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.