12,590 Shares in Solventum Corporation $SOLV Acquired by Cibc World Market Inc.

Cibc World Market Inc. acquired a new stake in shares of Solventum Corporation (NYSE:SOLV) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 12,590 shares of the company’s stock, valued at approximately $919,000.

Other large investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in shares of Solventum by 51.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,267 shares of the company’s stock worth $384,000 after purchasing an additional 1,791 shares during the last quarter. Investment Management Associates Inc. ADV raised its holdings in Solventum by 10.3% during the third quarter. Investment Management Associates Inc. ADV now owns 258,949 shares of the company’s stock valued at $18,903,000 after buying an additional 24,116 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Solventum by 8.8% in the third quarter. Wealthfront Advisers LLC now owns 3,781 shares of the company’s stock worth $276,000 after buying an additional 307 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Solventum by 8.6% during the 3rd quarter. ProShare Advisors LLC now owns 26,760 shares of the company’s stock worth $1,953,000 after acquiring an additional 2,114 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Solventum by 48.6% during the 3rd quarter. Candriam S.C.A. now owns 80,975 shares of the company’s stock valued at $5,911,000 after acquiring an additional 26,481 shares during the last quarter.

Solventum Stock Performance

NYSE SOLV opened at $73.72 on Wednesday. The company’s fifty day moving average is $79.75 and its two-hundred day moving average is $76.16. Solventum Corporation has a 52-week low of $60.70 and a 52-week 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 firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 6.94 and a beta of 0.35.

Solventum announced that its Board of Directors has approved a share buyback program on Thursday, November 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SOLV shares. UBS Group restated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating on shares of Solventum in a report on Wednesday, December 17th. KeyCorp raised shares of Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 target price for the company in a research report on Monday, January 26th. Finally, Mizuho set a $100.00 price target on Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.83.

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. 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.