Kiltearn Partners LLP Buys 32,800 Shares of Solventum Co. (NYSE:SOLV)

Kiltearn Partners LLP increased its stake in Solventum Co. (NYSE:SOLV) by 80.6% during the fourth quarter, Holdings Channel reports. The firm owned 73,500 shares of the company’s stock after acquiring an additional 32,800 shares during the period. Kiltearn Partners LLP’s holdings in Solventum were worth $4,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SOLV. Norges Bank acquired a new position in Solventum during the fourth quarter valued at approximately $203,740,000. Caisse Des Depots ET Consignations acquired a new position in shares of Solventum during the 4th quarter worth $83,000. NEOS Investment Management LLC lifted its position in shares of Solventum by 24.1% during the 4th quarter. NEOS Investment Management LLC now owns 6,359 shares of the company’s stock worth $420,000 after buying an additional 1,236 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Solventum by 13.7% in the fourth quarter. UniSuper Management Pty Ltd now owns 26,509 shares of the company’s stock valued at $1,751,000 after buying an additional 3,192 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Solventum by 0.6% in the fourth quarter. JPMorgan Chase & Co. now owns 602,949 shares of the company’s stock valued at $39,831,000 after acquiring an additional 3,665 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho increased their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Wells Fargo & Company increased their price objective 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. Bank of America boosted 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. The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Finally, Piper Sandler boosted their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $79.86.

Solventum Stock Performance

Shares of Solventum stock opened at $75.56 on Friday. The stock has a market cap of $13.07 billion and a price-to-earnings ratio of 27.48. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company’s fifty day moving average is $75.48 and its 200 day moving average is $71.78. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

About Solventum

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.