Candriam S.C.A. Makes New $517,000 Investment in Solventum Co. (NYSE:SOLV)

Candriam S.C.A. bought a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,829 shares of the company's stock, valued at approximately $517,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Modus Advisors LLC purchased a new stake in Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Solventum during the fourth quarter worth approximately $26,000. Crews Bank & Trust bought a new stake in shares of Solventum in the fourth quarter worth $32,000. True Wealth Design LLC raised its holdings in Solventum by 23,550.0% in the third quarter. True Wealth Design LLC now owns 473 shares of the company's stock valued at $33,000 after acquiring an additional 471 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Solventum during the 3rd quarter valued at $35,000.

Solventum Stock Performance

Shares of NYSE SOLV traded up $2.01 during midday trading on Friday, hitting $74.31. 1,142,865 shares of the company's stock were exchanged, compared to its average volume of 1,434,765. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The firm has a market cap of $12.85 billion and a P/E ratio of 27.02. The stock's 50 day moving average price is $74.37 and its 200-day moving average price is $70.97. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on SOLV shares. Morgan Stanley boosted their target price 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. The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Piper Sandler lifted their target price on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Mizuho upped their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Finally, Bank of America lifted their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.86.

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.