Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Solventum Corporation (NYSE:SOLV – Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 56,617 shares of the company’s stock after selling 3,174 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Solventum were worth $4,232,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Solventum during the fourth quarter valued at about $18,583,000. Perigon Wealth Management LLC grew its holdings in Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock valued at $331,000 after purchasing an additional 159 shares during the period. Victory Capital Management Inc. grew its holdings in Solventum by 26.2% during the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company’s stock valued at $4,469,000 after purchasing an additional 14,065 shares during the period. Farther Finance Advisors LLC grew its holdings in Solventum by 140.6% during the first quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock valued at $139,000 after purchasing an additional 1,064 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Solventum by 2.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after acquiring an additional 192 shares during the period.
Solventum Price Performance
NYSE:SOLV opened at $77.87 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $13.47 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.94 and a beta of 0.55. Solventum Corporation has a 12 month low of $47.16 and a 12 month high of $85.92. The business’s 50-day moving average is $71.98 and its 200 day moving average is $71.97.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on SOLV shares. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday. KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating for the company. Finally, Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.50.
View Our Latest Stock Analysis on SOLV
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.
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