Thrivent Financial for Lutherans Raises Holdings in Solventum Co. (NYSE:SOLV)

Thrivent Financial for Lutherans raised its position in Solventum Co. (NYSE:SOLV) by 37.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,721 shares of the company’s stock after purchasing an additional 3,498 shares during the period. Thrivent Financial for Lutherans’ holdings in Solventum were worth $863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Modus Advisors LLC acquired a new stake in shares of Solventum in the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the 4th quarter valued at $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum in the 4th quarter worth $32,000. Synergy Asset Management LLC purchased a new position in shares of Solventum during the 4th quarter worth $35,000. Finally, Spire Wealth Management acquired a new position in shares of Solventum during the 4th quarter valued at about $37,000.

Solventum Price Performance

Shares of SOLV opened at $76.29 on Wednesday. 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 $85.92. The stock has a market cap of $13.20 billion and a PE ratio of 27.74. The firm has a fifty day moving average price of $75.60 and a 200 day moving average price of $71.97.

Analysts Set New Price Targets

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

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.