Treasurer of the State of North Carolina Purchases 380 Shares of Solventum Co. (NYSE:SOLV)

Treasurer of the State of North Carolina boosted its holdings in Solventum Co. (NYSE:SOLV) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,952 shares of the company’s stock after purchasing an additional 380 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Solventum were worth $4,026,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SOLV has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company increased their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America increased their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler lifted their price objective 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Stock Performance

Solventum stock opened at $65.97 on Wednesday. The firm’s 50 day simple moving average is $73.88 and its 200 day simple moving average is $71.69. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The firm has a market capitalization of $11.41 billion and a PE ratio of 23.99.

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.