Essential Planning LLC. Acquires Shares of 8,794 Solventum Co. (NYSE:SOLV)

Essential Planning LLC. bought a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,794 shares of the company's stock, valued at approximately $615,000.

A number of other institutional investors have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC boosted its stake in Solventum by 373.6% during the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company's stock worth $3,323,000 after buying an additional 37,600 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock valued at $3,103,000 after acquiring an additional 9,333 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Solventum by 37.4% in the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company's stock valued at $8,217,000 after purchasing an additional 32,051 shares during the period. State Street Corp increased its position in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock worth $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden purchased a new stake in shares of Solventum in the 4th quarter valued at approximately $1,876,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. The Goldman Sachs Group increased their target price 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. Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Mizuho boosted their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $79.86.

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Solventum Stock Up 2.8 %

Shares of SOLV traded up $2.01 during mid-day trading on Friday, reaching $74.31. The company's stock had a trading volume of 1,142,880 shares, compared to its average volume of 1,434,765. The company's 50 day moving average is $74.52 and its 200 day moving average is $71.07. The stock has a market cap of $12.85 billion and a PE ratio of 27.02. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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.