Mitsubishi UFJ Trust & Banking Corp Acquires 7,758 Shares of Solventum Co. (NYSE:SOLV)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Solventum Co. (NYSE:SOLV) by 3.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 245,800 shares of the company’s stock after purchasing an additional 7,758 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Solventum were worth $16,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in SOLV. Vanguard Group Inc. boosted its position in shares of Solventum by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock valued at $1,074,591,000 after acquiring an additional 75,631 shares during the period. KLP Kapitalforvaltning AS bought a new position in Solventum in the 4th quarter valued at $3,406,000. Sei Investments Co. grew its position in shares of Solventum by 24.0% during the 4th quarter. Sei Investments Co. now owns 37,638 shares of the company’s stock valued at $2,487,000 after purchasing an additional 7,295 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Solventum by 43.2% in the fourth quarter. American Century Companies Inc. now owns 146,608 shares of the company’s stock worth $9,685,000 after purchasing an additional 44,251 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in shares of Solventum in the fourth quarter worth $69,000.

Solventum Price Performance

Shares of NYSE:SOLV opened at $74.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a market cap of $12.94 billion and a PE ratio of 27.19. The company’s fifty day moving average is $75.51 and its 200 day moving average is $71.83. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SOLV. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Morgan Stanley raised their price objective 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 upped their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Solventum presently has an average rating of “Hold” and an average target price 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.