Kennondale Capital Management LLC Takes Position in Solventum Co. (NYSE:SOLV)

Kennondale Capital Management LLC bought a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,845 shares of the company's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New York Life Investment Management LLC grew its holdings in shares of Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares during the period. Blue Trust Inc. lifted its stake in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after buying an additional 161 shares in the last quarter. MML Investors Services LLC lifted its stake in Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock valued at $373,000 after buying an additional 168 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after buying an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after buying an additional 223 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler increased their price target on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Solventum has an average rating of "Hold" and a consensus target price of $79.86.

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Solventum Trading Down 1.3 %

Shares of SOLV traded down $0.99 during trading hours on Friday, hitting $74.00. The stock had a trading volume of 1,919,810 shares, compared to its average volume of 1,429,530. 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 firm has a market cap of $12.80 billion and a P/E ratio of 26.91. The company's fifty day simple moving average is $75.17 and its 200 day simple moving average is $71.51. Solventum Co. has a 12-month low of $47.16 and a 12-month 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.