Independent Franchise Partners LLP Increases Stock Holdings in Solventum Co. (NYSE:SOLV)

Independent Franchise Partners LLP grew its stake in Solventum Co. (NYSE:SOLV - Free Report) by 105.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,603,154 shares of the company's stock after acquiring an additional 821,272 shares during the quarter. Solventum accounts for 0.8% of Independent Franchise Partners LLP's holdings, making the stock its 23rd biggest position. Independent Franchise Partners LLP owned 0.93% of Solventum worth $105,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SOLV shares. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Piper Sandler boosted their price objective on shares of Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Mizuho lifted their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upped their price objective 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $79.86.

Solventum Trading Up 0.8 %

SOLV stock traded up $0.56 during midday trading on Friday, hitting $66.23. The stock had a trading volume of 910,263 shares, compared to its average volume of 1,325,909. The firm has a market cap of $11.46 billion and a P/E ratio of 24.08. The business has a fifty day moving average price of $73.56 and a two-hundred day moving average price of $71.62. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

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.