HBK Investments L P Grows Stock Holdings in Solventum Co. (NYSE:SOLV)

HBK Investments L P raised its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 89.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,583 shares of the company's stock after buying an additional 163,666 shares during the quarter. Solventum comprises approximately 0.4% of HBK Investments L P's portfolio, making the stock its 27th biggest position. HBK Investments L P owned 0.20% of Solventum worth $22,961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SOLV. Vanguard Group Inc. raised its position in shares of Solventum by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after purchasing an additional 75,631 shares during the last quarter. Geode Capital Management LLC raised its position in Solventum by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after buying an additional 112,686 shares during the last quarter. Norges Bank purchased a new stake in Solventum during the fourth quarter valued at approximately $203,740,000. Invesco Ltd. boosted its stake in shares of Solventum by 6.4% during the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock worth $193,101,000 after acquiring an additional 176,201 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Solventum during the 4th quarter worth $110,378,000.

Solventum Price Performance

Shares of Solventum stock traded down $0.46 during trading hours on Wednesday, reaching $65.79. The company's stock had a trading volume of 209,578 shares, compared to its average volume of 1,290,153. The firm has a 50 day moving average price of $72.26 and a 200-day moving average price of $71.55. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a market cap of $11.38 billion and a P/E ratio of 23.92.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Solventum from $84.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wells Fargo & Company raised their price objective 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. Mizuho raised their price objective 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. Bank of America raised their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Solventum presently has a consensus rating of "Hold" and a consensus price target of $79.29.

About Solventum

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.