Principal Financial Group Inc. raised its holdings in shares of Solventum Co. (NYSE:SOLV – Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,376 shares of the company’s stock after buying an additional 1,761 shares during the period. Principal Financial Group Inc. owned about 0.10% of Solventum worth $11,321,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new position in Solventum in the 4th quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum in the fourth quarter worth approximately $26,000. True Wealth Design LLC increased its position 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 acquiring an additional 471 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Solventum during the fourth quarter valued at approximately $32,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Solventum in the 3rd quarter valued at approximately $35,000.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on SOLV shares. Mizuho initiated coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective on the stock. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upped their price target on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Bank of America raised their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.86.
Solventum Stock Performance
SOLV opened at $83.46 on Friday. The stock has a fifty day moving average price of $72.25 and a 200 day moving average price of $69.73. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05.
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.
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