Solventum Co. (NYSE:SOLV) Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its stake in shares of Solventum Co. (NYSE:SOLV) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 120,707 shares of the company’s stock after acquiring an additional 1,400 shares during the period. Korea Investment CORP’s holdings in Solventum were worth $7,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Worldquant Millennium Advisors LLC increased its holdings in shares of Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Solventum by 24.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares during the period. The Manufacturers Life Insurance Company raised its holdings 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 last quarter. State Street Corp boosted its position in shares of Solventum by 3.1% during 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 during the period. Finally, Forsta AP Fonden bought a new position in Solventum in the 4th quarter worth approximately $1,876,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SOLV shares. Piper Sandler lifted their target price on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Mizuho upped their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Wells Fargo & Company increased their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Bank of America upped their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Solventum presently has a consensus rating of “Hold” and a consensus price target of $79.86.

Solventum Trading Up 1.7 %

Shares of NYSE:SOLV opened at $76.02 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a market capitalization of $13.15 billion and a price-to-earnings ratio of 27.64. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a 50 day moving average price of $75.56 and a 200 day moving average price of $71.92.

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.