Geode Capital Management LLC Acquires 112,686 Shares of Solventum Co. (NYSE:SOLV)

Geode Capital Management LLC raised its holdings in shares of Solventum Co. (NYSE:SOLV) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,460,405 shares of the company’s stock after acquiring an additional 112,686 shares during the quarter. Geode Capital Management LLC owned about 2.00% of Solventum worth $227,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SOLV. Modus Advisors LLC purchased a new stake in Solventum during the 4th quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum during the fourth quarter valued at about $26,000. Crews Bank & Trust purchased a new stake in shares of Solventum in the fourth quarter worth about $32,000. Synergy Asset Management LLC bought a new position in shares of Solventum in the fourth quarter valued at approximately $35,000. Finally, Spire Wealth Management purchased a new stake in shares of Solventum in the fourth quarter worth $37,000.

Solventum Stock Down 5.7 %

Shares of Solventum stock opened at $66.22 on Friday. The company has a 50-day simple moving average of $75.42 and a two-hundred day simple moving average of $71.95. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock has a market capitalization of $11.45 billion and a PE ratio of 24.08.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted 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. Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Bank of America upped their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Piper Sandler raised their target price on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Mizuho lifted their price target on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.86.

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.