51,565 Shares in Solventum Co. (NYSE:SOLV) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,565 shares of the company’s stock, valued at approximately $3,406,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SOLV. Sei Investments Co. increased its position in Solventum by 24.0% in the 4th quarter. Sei Investments Co. now owns 37,638 shares of the company’s stock valued at $2,487,000 after acquiring an additional 7,295 shares during the period. American Century Companies Inc. grew its stake in shares of Solventum by 43.2% in the 4th quarter. American Century Companies Inc. now owns 146,608 shares of the company’s stock valued at $9,685,000 after purchasing an additional 44,251 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Solventum in the fourth quarter valued at approximately $69,000. MRP Capital Investments LLC increased its holdings in shares of Solventum by 93.9% in the fourth quarter. MRP Capital Investments LLC now owns 10,275 shares of the company’s stock valued at $679,000 after purchasing an additional 4,975 shares during the period. Finally, Investment House LLC raised its stake in shares of Solventum by 111.3% during the fourth quarter. Investment House LLC now owns 76,171 shares of the company’s stock worth $5,032,000 after purchasing an additional 40,130 shares during the last quarter.

Solventum Stock Performance

Shares of SOLV stock opened at $74.25 on Thursday. The stock has a market cap of $12.84 billion and a PE ratio of 27.00. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. The stock has a fifty day moving average price of $75.43 and a 200 day moving average price of $71.75.

Analysts Set New Price Targets

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

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.