Allstate Corp Makes New Investment in Solventum Co. (NYSE:SOLV)

Allstate Corp acquired a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,358 shares of the company's stock, valued at approximately $288,000.

A number of other institutional investors have also recently bought and sold shares of the company. Modus Advisors LLC bought a new position in shares of Solventum during the 4th quarter valued at $25,000. Stonebridge Financial Group LLC bought a new position in Solventum during the fourth quarter valued at about $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum in the fourth quarter worth about $32,000. Synergy Asset Management LLC bought a new stake in shares of Solventum during the 4th quarter worth about $35,000. Finally, Spire Wealth Management acquired a new position in shares of Solventum during the 4th quarter valued at about $37,000.

Solventum Stock Performance

Shares of SOLV traded down $3.97 during trading hours on Friday, reaching $66.22. 1,873,221 shares of the company traded hands, compared to its average volume of 1,370,900. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock's fifty day moving average is $75.60 and its 200 day moving average is $71.99. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The stock has a market cap of $11.45 billion and a P/E ratio of 24.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Mizuho boosted 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. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Piper Sandler boosted their target price 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. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.86.

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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.