Sumitomo Mitsui Trust Group Inc. Has $23.28 Million Stock Holdings in Solventum Corporation $SOLV

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Solventum Corporation (NYSE:SOLV) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 318,907 shares of the company’s stock after acquiring an additional 22,937 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Solventum worth $23,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SOLV. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Solventum by 0.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock worth $1,500,000 after purchasing an additional 140 shares during the period. CHICAGO TRUST Co NA increased its position in shares of Solventum by 3.0% in the 3rd quarter. CHICAGO TRUST Co NA now owns 5,188 shares of the company’s stock valued at $379,000 after buying an additional 150 shares in the last quarter. Applied Finance Capital Management LLC increased its position in shares of Solventum by 3.8% in the 2nd quarter. Applied Finance Capital Management LLC now owns 4,428 shares of the company’s stock valued at $336,000 after buying an additional 162 shares in the last quarter. Lazard Asset Management LLC raised its stake in Solventum by 1.4% during the 2nd quarter. Lazard Asset Management LLC now owns 11,605 shares of the company’s stock worth $880,000 after buying an additional 163 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings 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 acquiring an additional 166 shares in the last quarter.

Solventum Stock Down 1.1%

NYSE:SOLV opened at $79.59 on Friday. The stock has a 50-day simple moving average of $81.09 and a 200 day simple moving average of $75.64. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $88.20. The company has a market cap of $13.80 billion, a PE ratio of 9.17, a PEG ratio of 8.00 and a beta of 0.34. 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 EPS for the quarter, beating the consensus estimate of $1.43 by $0.07. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. On average, sell-side analysts expect that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SOLV shares. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a report on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating on shares of Solventum in a report on Wednesday, December 17th. Wall Street Zen upgraded Solventum from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research cut Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, December 2nd. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.64.

Solventum Company 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.