45,784 Shares in Solventum Co. (NYSE:SOLV) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,784 shares of the company's stock, valued at approximately $3,029,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Modus Advisors LLC acquired a new position in Solventum during the fourth quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the 4th quarter worth approximately $26,000. Crews Bank & Trust acquired a new position in Solventum in the fourth quarter valued at $32,000. Synergy Asset Management LLC acquired a new stake in shares of Solventum in the fourth quarter worth approximately $35,000. Finally, Spire Wealth Management acquired a new stake in shares of Solventum during the 4th quarter worth $37,000.

Solventum Price Performance

NYSE SOLV traded down $1.04 on Tuesday, reaching $66.76. 174,604 shares of the stock traded hands, compared to its average volume of 1,333,381. The firm's fifty day simple moving average is $74.05 and its 200 day simple moving average is $71.73. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The company has a market cap of $11.55 billion and a price-to-earnings ratio of 24.27. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Piper Sandler lifted 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. 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 report on Friday, February 28th. Mizuho increased their price objective 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, Morgan Stanley boosted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.