Boston Partners Takes $110.38 Million Position in Solventum Co. (NYSE:SOLV)

Boston Partners bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,670,408 shares of the company’s stock, valued at approximately $110,378,000.

A number of other hedge funds have also recently modified their holdings of the business. New York Life Investment Management LLC boosted its holdings in shares of Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after buying an additional 136 shares in the last quarter. Blue Trust Inc. boosted its stake in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after purchasing an additional 161 shares in the last quarter. MML Investors Services LLC boosted its stake in Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after purchasing an additional 168 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after purchasing an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Bank of America upped their price target 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. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Mizuho upped their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Solventum has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

NYSE SOLV opened at $75.38 on Wednesday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The firm has a market capitalization of $13.04 billion and a P/E ratio of 27.41. 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 company has a 50-day moving average price of $74.77 and a 200-day moving average price of $71.38.

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.