Asahi Life Asset Management CO. LTD. Buys New Position in Solventum Co. (NYSE:SOLV)

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Solventum Co. (NYSE:SOLV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,800 shares of the company's stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOLV. New York Life Investment Management LLC increased its stake in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares during the period. Blue Trust Inc. increased 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 valued at $549,000 after acquiring an additional 161 shares during the last quarter. MML Investors Services LLC increased 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 valued at $373,000 after acquiring an additional 168 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Solventum by 4.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company's stock valued at $346,000 after acquiring an additional 200 shares during the last quarter. Finally, Savant Capital LLC increased 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 valued at $259,000 after acquiring an additional 233 shares during the last quarter.

Analysts Set New Price Targets

SOLV has been the subject of a number of research reports. 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 report on Monday. Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday. Bank of America boosted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $79.86.

Solventum Stock Performance

NYSE:SOLV traded down $2.58 during midday trading on Thursday, reaching $75.25. The stock had a trading volume of 523,966 shares, compared to its average volume of 1,442,632. The stock has a market cap of $13.00 billion and a P/E ratio of 27.33. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The firm has a fifty day simple moving average of $73.25 and a two-hundred day simple moving average of $70.39. 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 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.