California Public Employees Retirement System Cuts Stake in Solventum Co. (NYSE:SOLV)

California Public Employees Retirement System cut its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,838 shares of the company's stock after selling 14,229 shares during the quarter. California Public Employees Retirement System owned 0.12% of Solventum worth $14,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Solventum in the 4th quarter worth $203,740,000. Boston Partners purchased a new position in shares of Solventum during the fourth quarter valued at about $110,378,000. Nordea Investment Management AB grew its position in shares of Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock valued at $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after purchasing an additional 347,669 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Solventum during the fourth quarter valued at about $18,583,000.

Analyst Ratings Changes

A number of brokerages recently commented on SOLV. The Goldman Sachs Group increased their price target on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Morgan Stanley raised their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum has a consensus rating of "Hold" and a consensus target price of $79.86.

Solventum Stock Down 5.3 %

SOLV stock traded down $3.67 during trading on Thursday, hitting $64.91. 170,663 shares of the company's stock traded hands, compared to its average volume of 1,346,166. The firm has a market capitalization of $11.23 billion and a P/E ratio of 23.61. The business has a fifty day simple moving average of $74.52 and a two-hundred day simple moving average of $71.75. The company has a quick ratio of 0.83, a current ratio of 1.15 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 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.