Everence Capital Management Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Everence Capital Management Inc. bought a new position in shares of Solventum Co. (NYSE:SOLV) in the fourth quarter, HoldingsChannel reports. The firm bought 4,610 shares of the company’s stock, valued at approximately $305,000.

A number of other institutional investors have also recently modified their holdings of SOLV. Modus Advisors LLC acquired a new position in Solventum during the fourth quarter worth about $25,000. GAMMA Investing LLC grew its holdings in shares of Solventum by 35.3% in the 4th quarter. GAMMA Investing LLC now owns 3,329 shares of the company’s stock worth $220,000 after acquiring an additional 868 shares during the period. Principal Financial Group Inc. raised its holdings in Solventum by 3.0% during the third quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after purchasing an additional 4,896 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Solventum by 196.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 17,062 shares of the company’s stock worth $1,190,000 after purchasing an additional 11,312 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Solventum by 95.6% in the third quarter. Sanctuary Advisors LLC now owns 19,074 shares of the company’s stock valued at $1,351,000 after purchasing an additional 9,323 shares during the last quarter.

Solventum Trading Up 1.4 %

SOLV stock opened at $69.46 on Wednesday. The stock’s fifty day simple moving average is $69.59 and its 200-day simple moving average is $64.63. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Wall Street Analyst Weigh In

Several research firms recently commented on SOLV. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Piper Sandler upped 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. Stifel Nicolaus started coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. Morgan Stanley upped their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Mizuho initiated coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.29.

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.