Principal Financial Group Inc. Buys 4,896 Shares of Solventum Co. (NYSE:SOLV)

Principal Financial Group Inc. grew its stake in Solventum Co. (NYSE:SOLV) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,615 shares of the company’s stock after purchasing an additional 4,896 shares during the quarter. Principal Financial Group Inc. owned approximately 0.10% of Solventum worth $11,826,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Copeland Capital Management LLC bought a new position in Solventum in the 3rd quarter valued at about $26,000. Mather Group LLC. acquired a new position in shares of Solventum in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Solventum during the first quarter worth approximately $30,000. Hollencrest Capital Management acquired a new stake in Solventum during the 2nd quarter worth approximately $25,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in Solventum in the 2nd quarter valued at $25,000.

Solventum Price Performance

Shares of NYSE:SOLV opened at $67.48 on Monday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. 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’s 50 day simple moving average is $70.54 and its 200 day simple moving average is $62.18.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SOLV. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.

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.