Vanguard Group Inc. Has $1.25 Billion Stock Holdings in Solventum Corporation $SOLV

Vanguard Group Inc. boosted its stake in Solventum Corporation (NYSE:SOLV) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,121,198 shares of the company’s stock after acquiring an additional 867,837 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Solventum worth $1,249,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its stake in shares of Solventum by 78.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock valued at $27,000 after acquiring an additional 163 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Solventum in the 2nd quarter worth about $28,000. MUFG Securities EMEA plc bought a new position in Solventum in the second quarter valued at about $31,000. State of Wyoming acquired a new stake in shares of Solventum during the second quarter valued at about $33,000. Finally, MTM Investment Management LLC acquired a new position in shares of Solventum in the second quarter valued at approximately $40,000.

Analysts Set New Price Targets

SOLV has been the topic of a number of research reports. BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, December 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. Wall Street Zen lowered Solventum from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.83.

Solventum Price Performance

Shares of SOLV opened at $72.87 on Friday. The firm has a market cap of $12.64 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 6.76 and a beta of 0.35. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $88.20. The business’s 50 day moving average price is $79.23 and its two-hundred day moving average price is $76.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50.

Solventum declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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. 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.