Solventum Corporation $SOLV Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its position in shares of Solventum Corporation (NYSE:SOLV) by 48.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,975 shares of the company’s stock after buying an additional 26,481 shares during the period. Candriam S.C.A.’s holdings in Solventum were worth $5,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its stake in Solventum by 78.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock worth $27,000 after acquiring an additional 163 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Solventum during the 2nd quarter worth about $28,000. IMG Wealth Management Inc. acquired a new stake in Solventum during the 2nd quarter worth approximately $31,000. MUFG Securities EMEA plc acquired a new stake in Solventum during the 2nd quarter worth approximately $31,000. Finally, State of Wyoming purchased a new position in Solventum in the second quarter valued at approximately $33,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SOLV shares. Stifel Nicolaus increased their price objective on shares of Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, December 2nd. UBS Group reiterated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. Wall Street Zen cut Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Zacks Research lowered Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.83.

Solventum Trading Up 1.3%

NYSE SOLV opened at $81.49 on Thursday. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 7.39 and a beta of 0.35. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $88.20. The company’s fifty day moving average price is $80.40 and its two-hundred day moving average price is $76.07.

Solventum declared that its board has approved a share repurchase program on Thursday, November 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Solventum Company 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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.