Thrivent Financial for Lutherans Has $863,000 Holdings in Solventum Co. (NYSE:SOLV)

Thrivent Financial for Lutherans lifted its position in Solventum Co. (NYSE:SOLV - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,721 shares of the company's stock after buying an additional 3,498 shares during the period. Thrivent Financial for Lutherans' holdings in Solventum were worth $863,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Kennondale Capital Management LLC bought a new position in shares of Solventum during the fourth quarter worth $254,000. Cibc World Markets Corp lifted its position in shares of Solventum by 15.4% during the fourth quarter. Cibc World Markets Corp now owns 22,179 shares of the company's stock worth $1,465,000 after purchasing an additional 2,960 shares during the last quarter. Choate Investment Advisors grew its stake in Solventum by 19.1% in the fourth quarter. Choate Investment Advisors now owns 3,707 shares of the company's stock worth $245,000 after purchasing an additional 594 shares in the last quarter. Natixis Advisors LLC grew its holdings in Solventum by 14.3% during the 4th quarter. Natixis Advisors LLC now owns 54,406 shares of the company's stock worth $3,594,000 after acquiring an additional 6,790 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in Solventum during the fourth quarter valued at approximately $15,913,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOLV. Piper Sandler upped their price target on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Wells Fargo & Company raised their target price 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. Mizuho raised their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $79.86.

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Solventum Stock Performance

NYSE SOLV traded down $3.97 during midday trading on Friday, hitting $66.22. The company had a trading volume of 1,873,220 shares, compared to its average volume of 1,159,859. The stock has a market cap of $11.45 billion and a price-to-earnings ratio of 24.08. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm has a fifty day simple moving average of $75.60 and a two-hundred day simple moving average of $71.99. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week 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.