45,784 Shares in Solventum Co. (NYSE:SOLV) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 4th quarter, Holdings Channel.com reports. The firm acquired 45,784 shares of the company’s stock, valued at approximately $3,029,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in shares of Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the 4th quarter valued at about $26,000. Crews Bank & Trust bought a new stake in shares of Solventum in the 4th quarter valued at about $32,000. Synergy Asset Management LLC bought a new stake in shares of Solventum in the 4th quarter valued at about $35,000. Finally, Spire Wealth Management bought a new stake in shares of Solventum in the 4th quarter valued at about $37,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Piper Sandler boosted their price objective on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Bank of America boosted their price objective on 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 price objective on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Mizuho boosted their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Stock Performance

NYSE:SOLV opened at $68.61 on Thursday. The stock’s 50-day simple moving average is $74.52 and its 200 day simple moving average is $71.75. 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 market capitalization of $11.87 billion and a PE ratio of 24.95. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92.

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.