Solventum Co. (NYSE:SOLV) Shares Acquired by Principal Financial Group Inc.

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

Other institutional investors have also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC grew its holdings in Solventum by 373.6% during the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after purchasing an additional 32,051 shares in the last quarter. State Street Corp grew its stake in shares of Solventum by 3.1% during the 3rd 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 during the period. Point72 Asset Management L.P. purchased a new position in shares of Solventum in the 3rd quarter valued at about $50,948,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Solventum in the third quarter valued at about $125,488,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Morgan Stanley raised 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. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.29.

Solventum Trading Down 0.3 %

Solventum stock opened at $66.74 on Monday. The company has a 50-day simple moving average of $70.44 and a 200-day simple moving average of $63.98. Solventum Co. has a one year low of $47.16 and a one year 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.