Elo Mutual Pension Insurance Co Reduces Stock Position in Solventum Co. (NYSE:SOLV)

Elo Mutual Pension Insurance Co cut its stake in Solventum Co. (NYSE:SOLV) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,149 shares of the company’s stock after selling 2,891 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Solventum were worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. New York Life Investment Management LLC grew its holdings in Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after buying an additional 136 shares in the last quarter. Blue Trust Inc. grew its stake in Solventum by 2.1% during the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after acquiring an additional 161 shares in the last quarter. MML Investors Services LLC increased its holdings in Solventum by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after acquiring an additional 168 shares during the period. Avantax Advisory Services Inc. lifted its stake in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after purchasing an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares during the period.

Solventum Trading Down 1.0 %

Shares of SOLV opened at $74.78 on Monday. 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 Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The firm has a 50 day moving average price of $75.51 and a 200-day moving average price of $71.87. The firm has a market cap of $12.94 billion and a price-to-earnings ratio of 27.19.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. The Goldman Sachs Group upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Morgan Stanley lifted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Finally, Mizuho increased their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.86.

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.