Arrowstreet Capital Limited Partnership Acquires 347,669 Shares of Solventum Co. (NYSE:SOLV)

Arrowstreet Capital Limited Partnership grew its holdings in Solventum Co. (NYSE:SOLV) by 41.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193,361 shares of the company’s stock after acquiring an additional 347,669 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.69% of Solventum worth $78,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SOLV. Intech Investment Management LLC bought a new stake in Solventum during the 3rd quarter worth approximately $317,000. Bank of Montreal Can increased its position in shares of Solventum by 15.8% during the third quarter. Bank of Montreal Can now owns 182,748 shares of the company’s stock worth $12,348,000 after acquiring an additional 25,002 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after acquiring an additional 32,051 shares in the last quarter. Townsquare Capital LLC acquired a new position in Solventum in the 3rd quarter worth $544,000. Finally, Bridgewater Associates LP bought a new position in Solventum during the 3rd quarter worth about $1,316,000.

Solventum Trading Up 1.7 %

Solventum stock opened at $76.02 on Tuesday. The stock has a 50-day simple moving average of $75.56 and a 200 day simple moving average of $71.92. The stock has a market capitalization of $13.15 billion and a P/E ratio of 27.64. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOLV. The Goldman Sachs Group boosted their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Mizuho raised 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. Morgan Stanley boosted their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Wells Fargo & Company raised 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, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus target price of $79.86.

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.