Maven Securities LTD bought a new stake in Solventum Corporation (NYSE:SOLV – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $912,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Solventum during the 3rd quarter valued at about $25,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Solventum by 78.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock worth $27,000 after purchasing an additional 163 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Solventum in the second quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new position in shares of Solventum in the second quarter worth approximately $31,000. Finally, State of Wyoming bought a new stake in Solventum during the second quarter valued at approximately $33,000.
Solventum Price Performance
Shares of NYSE:SOLV opened at $68.64 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 0.89. Solventum Corporation has a 1-year low of $60.70 and a 1-year high of $88.20. The company has a market capitalization of $11.91 billion, a P/E ratio of 7.74, a P/E/G ratio of 1.10 and a beta of 0.40. The firm’s 50 day simple moving average is $75.84 and its two-hundred day simple moving average is $75.94.
Solventum declared that its board has authorized a share repurchase program on Thursday, November 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other Solventum news, Director Amy Mcbride Wendell purchased 1,475 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $68.03 per share, for a total transaction of $100,344.25. Following the purchase, the director owned 5,039 shares of the company’s stock, valued at approximately $342,803.17. This represents a 41.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.05% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Mizuho set a $100.00 price target on shares of Solventum and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Stifel Nicolaus boosted their price objective on shares of Solventum from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Zacks Research lowered Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Solventum in a research report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.70.
Check Out Our Latest Analysis on Solventum
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. 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.
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