The Manufacturers Life Insurance Company Reduces Stake in Solventum Co. (NYSE:SOLV)

The Manufacturers Life Insurance Company reduced its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,851 shares of the company's stock after selling 8,002 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Solventum worth $7,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SOLV. Norges Bank acquired a new position in Solventum during the 4th quarter worth approximately $203,740,000. Boston Partners acquired a new stake in Solventum in the 4th quarter valued at $110,378,000. Independent Franchise Partners LLP grew its holdings in shares of Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company's stock valued at $105,904,000 after acquiring an additional 821,272 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Solventum by 189.5% in the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock valued at $43,902,000 after acquiring an additional 431,986 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Solventum by 41.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after acquiring an additional 347,669 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler decreased their target price on shares of Solventum from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday. Morgan Stanley lifted their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $79.00.

Solventum Trading Up 6.7%

Shares of SOLV stock traded up $4.73 during mid-day trading on Monday, reaching $74.96. 271,937 shares of the stock traded hands, compared to its average volume of 1,261,366. The stock's fifty day simple moving average is $70.17 and its two-hundred day simple moving average is $71.26. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a market cap of $12.97 billion and a price-to-earnings ratio of 27.21.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. On average, research analysts anticipate that Solventum Co. will post 6.58 EPS for the current fiscal year.

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.