Bank of New York Mellon Corp Buys 36,907 Shares of Solventum Co. (NYSE:SOLV)

Bank of New York Mellon Corp increased its stake in Solventum Co. (NYSE:SOLV - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 943,699 shares of the company's stock after purchasing an additional 36,907 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of Solventum worth $62,341,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SOLV. Modus Advisors LLC acquired a new position in shares of Solventum during the 4th quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the fourth quarter valued at approximately $26,000. True Wealth Design LLC increased its position in Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company's stock worth $33,000 after acquiring an additional 471 shares during the period. Crews Bank & Trust acquired a new position in Solventum during the 4th quarter valued at $32,000. Finally, Prospera Private Wealth LLC bought a new stake in Solventum in the 3rd quarter valued at $35,000.

Solventum Price Performance

Shares of NYSE SOLV traded down $2.33 during mid-day trading on Thursday, hitting $75.50. 615,514 shares of the stock were exchanged, compared to its average volume of 1,442,944. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The stock's fifty day simple moving average is $73.25 and its two-hundred day simple moving average is $70.39. 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 company has a market cap of $13.04 billion and a P/E ratio of 27.50.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday. Morgan Stanley upped their price target on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Bank of America raised their target price on 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 boosted their price target on shares of Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $79.86.

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.