Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 55.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,791 shares of the company's stock after purchasing an additional 21,362 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Solventum were worth $3,959,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. abrdn plc grew its stake in shares of Solventum by 0.5% during the fourth quarter. abrdn plc now owns 183,530 shares of the company's stock valued at $12,120,000 after purchasing an additional 834 shares during the last quarter. Spire Wealth Management acquired a new stake in Solventum in the fourth quarter worth $37,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in Solventum by 5.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,227 shares of the company's stock worth $345,000 after purchasing an additional 261 shares during the period. Crews Bank & Trust acquired a new stake in shares of Solventum during the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Solventum during the fourth quarter worth $35,000.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on SOLV shares. Piper Sandler raised their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.29.
Read Our Latest Research Report on Solventum
Solventum Stock Performance
Solventum stock traded down $0.03 during midday trading on Wednesday, hitting $73.62. The company's stock had a trading volume of 459,857 shares, compared to its average volume of 924,923. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a 50-day moving average price of $70.51 and a two-hundred day moving average price of $68.32.
About Solventum
(
Free Report)
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.
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