The Manufacturers Life Insurance Company Purchases 32,051 Shares of Solventum Co. (NYSE:SOLV)

The Manufacturers Life Insurance Company lifted its stake in Solventum Co. (NYSE:SOLV - Free Report) by 37.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,853 shares of the company's stock after acquiring an additional 32,051 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Solventum worth $8,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Solventum by 4.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company's stock worth $346,000 after buying an additional 200 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Solventum by 4.0% in the second quarter. National Bank of Canada FI now owns 6,093 shares of the company's stock worth $314,000 after buying an additional 236 shares during the last quarter. IVC Wealth Advisors LLC boosted its holdings in shares of Solventum by 5.0% in the third quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company's stock worth $464,000 after buying an additional 318 shares during the last quarter. KKM Financial LLC boosted its holdings in shares of Solventum by 7.9% in the third quarter. KKM Financial LLC now owns 4,367 shares of the company's stock worth $304,000 after buying an additional 319 shares during the last quarter. Finally, Copeland Capital Management LLC purchased a new position in Solventum during the third quarter valued at approximately $26,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SOLV. Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They set a "peer perform" rating on the stock. Wells Fargo & Company lowered their price target on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target on the stock. Finally, Mizuho began coverage on shares of Solventum in a research report on Wednesday. They set a "neutral" rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $68.29.

Solventum Price Performance

SOLV traded down $0.51 during trading hours on Wednesday, hitting $70.26. The company's stock had a trading volume of 882,907 shares, compared to its average volume of 1,677,982. The business's 50-day moving average price is $70.62 and its 200-day moving average price is $62.77. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

About Solventum

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.