EverSource Wealth Advisors LLC Boosts Stake in Solventum Co. (NYSE:SOLV)

EverSource Wealth Advisors LLC raised its position in Solventum Co. (NYSE:SOLV) by 48.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 687 shares of the company’s stock after buying an additional 223 shares during the period. EverSource Wealth Advisors LLC’s holdings in Solventum were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC boosted its position in Solventum by 0.7% in 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 during the last quarter. Blue Trust Inc. lifted its position in shares of Solventum by 2.1% during the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after purchasing an additional 161 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Solventum by 3.2% during the third quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after purchasing an additional 168 shares during the last quarter. Savant Capital LLC lifted its position in shares of Solventum by 6.3% during the fourth quarter. Savant Capital LLC now owns 3,914 shares of the company’s stock worth $259,000 after purchasing an additional 233 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Solventum by 5.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,227 shares of the company’s stock worth $345,000 after purchasing an additional 261 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOLV. 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 report on Friday, February 28th. Mizuho increased their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Bank of America increased their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group increased their price target 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. Finally, Morgan Stanley increased their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.86.

Solventum Price Performance

SOLV opened at $76.36 on Thursday. The firm has a market cap of $13.21 billion and a price-to-earnings ratio of 27.77. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company’s 50-day moving average price is $74.92 and its 200 day moving average price is $71.42. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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.