Allstate Corp Makes New Investment in Solventum Co. (NYSE:SOLV)

Allstate Corp bought a new stake in Solventum Co. (NYSE:SOLV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,358 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC bought a new stake in Solventum in the 3rd quarter valued at about $317,000. The Manufacturers Life Insurance Company boosted its stake in shares of Solventum by 37.4% in 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. Townsquare Capital LLC acquired a new stake in Solventum during the third quarter worth approximately $544,000. Public Sector Pension Investment Board increased its stake in Solventum by 22.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,920 shares of the company’s stock worth $343,000 after acquiring an additional 900 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Solventum in the 3rd quarter valued at $1,106,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SOLV shares. Morgan Stanley increased their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Mizuho upped their price target 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 lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group upped their target price on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

Shares of NYSE:SOLV opened at $76.54 on Thursday. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $13.24 billion and a price-to-earnings ratio of 27.83. The firm has a 50 day simple moving average of $75.66 and a 200 day simple moving average of $72.00.

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.