Clark Estates Inc. NY Invests $11.32 Million in Solventum Corporation $SOLV

Clark Estates Inc. NY acquired a new stake in shares of Solventum Corporation (NYSE:SOLV) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 155,000 shares of the company’s stock, valued at approximately $11,315,000. Solventum comprises 2.6% of Clark Estates Inc. NY’s portfolio, making the stock its 10th largest holding. Clark Estates Inc. NY owned approximately 0.09% of Solventum as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Independent Franchise Partners LLP increased its stake in Solventum by 74.2% in the 2nd quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company’s stock worth $769,098,000 after buying an additional 4,320,342 shares during the period. Norges Bank bought a new position in shares of Solventum in the 2nd quarter worth $140,495,000. Vanguard Group Inc. raised its holdings in Solventum by 5.3% in the third quarter. Vanguard Group Inc. now owns 17,121,198 shares of the company’s stock worth $1,249,847,000 after purchasing an additional 867,837 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Solventum during the third quarter valued at approximately $31,701,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Solventum by 60.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 928,830 shares of the company’s stock valued at $67,805,000 after purchasing an additional 349,463 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. KeyCorp raised Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 price target for the company in a report on Monday, January 26th. Zacks Research lowered shares of Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Wall Street Zen cut shares of Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Solventum in a report on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.83.

Solventum Stock Performance

NYSE:SOLV opened at $72.87 on Monday. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 6.70 and a beta of 0.35. Solventum Corporation has a 1-year low of $60.70 and a 1-year high of $88.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The company’s 50-day moving average is $79.23 and its two-hundred day moving average is $76.18.

Solventum announced that its board has authorized a stock buyback plan on Thursday, November 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are 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.