Vanguard Group Inc. Acquires 75,631 Shares of Solventum Co. (NYSE:SOLV)

Vanguard Group Inc. raised its holdings in shares of Solventum Co. (NYSE:SOLV) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 16,266,893 shares of the company’s stock after purchasing an additional 75,631 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Solventum worth $1,074,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC raised its stake in shares of Solventum by 373.6% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after purchasing an additional 37,600 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after buying an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after buying an additional 32,051 shares during the period. State Street Corp lifted its holdings in shares of Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares in the last quarter. Finally, Forsta AP Fonden bought a new position in shares of Solventum in the fourth quarter valued at approximately $1,876,000.

Solventum Stock Down 1.0 %

Shares of NYSE SOLV opened at $74.78 on Friday. The stock has a market capitalization of $12.94 billion and a P/E ratio of 27.19. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The firm’s 50 day simple moving average is $75.51 and its two-hundred day simple moving average is $71.83. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Analysts Set New Price Targets

A number of analysts recently weighed in on SOLV shares. Piper Sandler upped their target price on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho boosted their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Finally, Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus target price of $79.86.

About Solventum

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.