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

Thrivent Financial for Lutherans lifted its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,721 shares of the company's stock after purchasing an additional 3,498 shares during the period. Thrivent Financial for Lutherans' holdings in Solventum were worth $863,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Modus Advisors LLC acquired a new position in Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum during the fourth quarter worth $26,000. Crews Bank & Trust acquired a new position in shares of Solventum during the fourth quarter valued at $32,000. Synergy Asset Management LLC bought a new position in Solventum in the fourth quarter valued at about $35,000. Finally, Spire Wealth Management acquired a new stake in Solventum in the fourth quarter worth about $37,000.

Solventum Trading Down 5.7 %

Shares of Solventum stock traded down $3.97 during trading hours on Friday, hitting $66.22. The company's stock had a trading volume of 1,873,221 shares, compared to its average volume of 1,359,517. The company has a market capitalization of $11.45 billion and a PE ratio of 24.08. 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 stock has a 50 day moving average of $75.42 and a 200 day moving average of $71.94. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SOLV. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Bank of America raised their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Mizuho upped their target price on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.