Everence Capital Management Inc. Buys New Holdings in Solventum Co. (NYSE:SOLV)

Everence Capital Management Inc. purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,610 shares of the company’s stock, valued at approximately $305,000.

A number of other large investors also recently modified their holdings of the company. Trian Fund Management L.P. lifted its stake in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the last quarter. State Street Corp raised its holdings in 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 purchasing an additional 185,938 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after buying an additional 128,317 shares during the last quarter. Nuance Investments LLC acquired a new position in shares of Solventum in the 2nd quarter valued at $115,829,000. Finally, Newport Trust Company LLC purchased a new position in shares of Solventum in the 2nd quarter valued at $98,976,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SOLV. Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho initiated coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price for the company. Wolfe Research assumed coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus initiated coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.29.

Solventum Stock Performance

Solventum stock opened at $69.46 on Wednesday. The business has a 50 day simple moving average of $69.59 and a 200-day simple moving average of $64.63. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. 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 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.