E Fund Management Co. Ltd. Invests $334,000 in Solventum Co. (NYSE:SOLV)

E Fund Management Co. Ltd. purchased a new position in Solventum Co. (NYSE:SOLV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,063 shares of the company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in shares of Solventum by 9.8% during the third quarter. Janney Montgomery Scott LLC now owns 42,931 shares of the company's stock valued at $2,993,000 after buying an additional 3,848 shares during the period. Van ECK Associates Corp boosted its holdings in Solventum by 53.9% during the 3rd quarter. Van ECK Associates Corp now owns 36,694 shares of the company's stock valued at $2,660,000 after acquiring an additional 12,847 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Solventum by 29.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 27,826 shares of the company's stock valued at $1,940,000 after acquiring an additional 6,260 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Solventum by 0.9% in the third quarter. Asset Management One Co. Ltd. now owns 53,597 shares of the company's stock worth $3,737,000 after purchasing an additional 464 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Solventum during the third quarter worth $213,000.

Solventum Stock Down 2.6 %

Shares of NYSE SOLV traded down $1.94 during mid-day trading on Wednesday, reaching $73.95. 1,039,309 shares of the company were exchanged, compared to its average volume of 1,438,568. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. The firm has a 50-day moving average of $74.08 and a 200 day moving average of $70.94. The stock has a market cap of $12.79 billion and a price-to-earnings ratio of 26.89. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on SOLV. Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Piper Sandler raised their price objective on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Solventum 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.