Illinois Municipal Retirement Fund Purchases 18,209 Shares of Solventum Corporation $SOLV

Illinois Municipal Retirement Fund raised its holdings in shares of Solventum Corporation (NYSE:SOLV) by 63.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,892 shares of the company’s stock after purchasing an additional 18,209 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Solventum were worth $3,423,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Independent Franchise Partners LLP increased its position in shares of Solventum by 74.2% during the second quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company’s stock worth $769,098,000 after acquiring an additional 4,320,342 shares in the last quarter. Norges Bank acquired a new position in Solventum during the 2nd quarter valued at about $140,495,000. Assenagon Asset Management S.A. boosted its stake in Solventum by 60.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 928,830 shares of the company’s stock valued at $67,805,000 after purchasing an additional 349,463 shares during the last quarter. Boston Partners increased its holdings in Solventum by 9.2% during the 2nd quarter. Boston Partners now owns 3,670,757 shares of the company’s stock worth $278,363,000 after purchasing an additional 308,784 shares in the last quarter. Finally, Ruffer LLP purchased a new stake in shares of Solventum in the third quarter worth approximately $15,152,000.

Solventum Trading Down 0.5%

Shares of Solventum stock opened at $75.59 on Friday. The firm has a market cap of $13.11 billion, a PE ratio of 8.71, a P/E/G ratio of 6.94 and a beta of 0.35. Solventum Corporation has a 1 year low of $60.70 and a 1 year high of $88.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The stock has a fifty day moving average price of $80.01 and a 200-day moving average price of $76.10.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SOLV shares. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research report on Friday, November 21st. Zacks Research lowered Solventum from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Solventum in a research note on Tuesday, January 27th. Finally, Wall Street Zen lowered shares of Solventum from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.83.

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.