Arizona State Retirement System Purchases 580 Shares of Solventum Co. (NYSE:SOLV)

Arizona State Retirement System grew its holdings in shares of Solventum Co. (NYSE:SOLV) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,639 shares of the company’s stock after buying an additional 580 shares during the period. Arizona State Retirement System’s holdings in Solventum were worth $2,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Modus Advisors LLC purchased a new position in Solventum during the 4th quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum during the fourth quarter worth $26,000. Crews Bank & Trust purchased a new stake in shares of Solventum during the fourth quarter valued at $32,000. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 471 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Solventum in the 3rd quarter worth about $35,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SOLV shares. Piper Sandler boosted their price objective on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Solventum has a consensus rating of “Hold” and an average price target of $79.86.

Solventum Stock Up 2.9 %

Shares of NYSE SOLV opened at $77.96 on Monday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The stock’s fifty day simple moving average is $73.65 and its two-hundred day simple moving average is $70.71. The stock has a market capitalization of $13.49 billion and a PE ratio of 28.35. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.