CIBC Asset Management Inc Grows Stock Position in Solventum Co. (NYSE:SOLV)

CIBC Asset Management Inc boosted its position in Solventum Co. (NYSE:SOLV) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,673 shares of the company’s stock after purchasing an additional 382 shares during the period. CIBC Asset Management Inc’s holdings in Solventum were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SOLV. Modus Advisors LLC purchased a new stake in Solventum in the fourth quarter worth $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the fourth quarter worth $26,000. Crews Bank & Trust purchased a new stake in Solventum in the fourth quarter worth $32,000. True Wealth Design LLC increased its position in Solventum by 23,550.0% in the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after buying an additional 471 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Solventum in the third quarter worth $35,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SOLV shares. Morgan Stanley raised their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler lifted their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho initiated coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Trading Down 1.9 %

NYSE:SOLV opened at $73.08 on Friday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The stock has a fifty day moving average of $71.14 and a 200 day moving average of $69.15. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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.