Choate Investment Advisors Has $245,000 Stake in Solventum Co. (NYSE:SOLV)

Choate Investment Advisors increased its position in shares of Solventum Co. (NYSE:SOLV) by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,707 shares of the company’s stock after buying an additional 594 shares during the period. Choate Investment Advisors’ holdings in Solventum were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Trian Fund Management L.P. boosted its position in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the period. State Street Corp boosted its position in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares during the period. Geode Capital Management LLC boosted its position in Solventum by 4.0% during the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after purchasing an additional 128,317 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Solventum during the third quarter worth $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Solventum by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares during the period.

Solventum Trading Up 1.2 %

SOLV opened at $75.04 on Tuesday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a 50-day simple moving average of $74.65 and a 200 day simple moving average of $71.30. 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 stock has a market capitalization of $12.98 billion and a price-to-earnings ratio of 27.29.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley boosted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Bank of America boosted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group boosted 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. One research 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, Solventum currently has an average rating of “Hold” and a consensus price target of $79.86.

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.