Diamond Hill Capital Management Inc. Invests $15.91 Million in Solventum Co. (NYSE:SOLV)

Diamond Hill Capital Management Inc. bought a new position in shares of Solventum Co. (NYSE:SOLV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 240,891 shares of the company’s stock, valued at approximately $15,913,000.

Several other large investors have also recently bought and sold shares of SOLV. Principal Financial Group Inc. raised its stake in Solventum by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after acquiring an additional 4,896 shares in the last quarter. Atria Investments Inc increased its position in shares of Solventum by 93.2% during the third quarter. Atria Investments Inc now owns 11,699 shares of the company’s stock worth $816,000 after purchasing an additional 5,644 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Solventum in the 3rd quarter valued at about $241,000. Victory Capital Management Inc. boosted its position in shares of Solventum by 137.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,589 shares of the company’s stock valued at $3,736,000 after purchasing an additional 31,007 shares during the period. Finally, Pinnacle Financial Partners Inc purchased a new position in Solventum during the 3rd quarter worth approximately $42,000.

Solventum Stock Up 2.8 %

Shares of NYSE SOLV opened at $74.31 on Friday. The firm’s 50-day moving average is $74.52 and its two-hundred day moving average is $71.07. The company has a market capitalization of $12.85 billion and a PE ratio of 27.02. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Analyst Upgrades and Downgrades

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

Solventum 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.