New York Life Investment Management LLC Increases Holdings in Solventum Co. (NYSE:SOLV)

New York Life Investment Management LLC increased its stake in shares of Solventum Co. (NYSE:SOLV) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,506 shares of the company’s stock after buying an additional 136 shares during the quarter. New York Life Investment Management LLC’s holdings in Solventum were worth $1,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum in the third quarter valued at $125,488,000. Trian Fund Management L.P. raised its position in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares during the period. Point72 Asset Management L.P. purchased a new stake in Solventum in the third quarter valued at $50,948,000. Nordea Investment Management AB grew its stake in shares of Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after buying an additional 431,986 shares in the last quarter. Finally, General American Investors Co. Inc. acquired a new stake in shares of Solventum in the third quarter valued at $14,456,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley lifted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price objective on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.86.

Solventum Trading Up 0.4 %

SOLV opened at $80.07 on Tuesday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The stock has a market capitalization of $13.83 billion and a price-to-earnings ratio of 29.12. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business has a fifty day moving average price of $72.78 and a 200 day moving average price of $70.20.

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.