Kennondale Capital Management LLC Takes $254,000 Position in Solventum Co. (NYSE:SOLV)

Kennondale Capital Management LLC bought a new stake in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,845 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors have also modified their holdings of the stock. New York Life Investment Management LLC increased its holdings in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after purchasing an additional 136 shares during the period. Blue Trust Inc. increased its holdings in shares of Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after purchasing an additional 161 shares during the period. MML Investors Services LLC increased its holdings in shares of Solventum by 3.2% in the third quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock valued at $373,000 after purchasing an additional 168 shares during the period. Avantax Advisory Services Inc. grew its holdings in Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after acquiring an additional 192 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the period.

Solventum Stock Up 1.2 %

Shares of NYSE:SOLV opened at $75.04 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The stock’s fifty day simple moving average is $74.65 and its 200-day simple moving average is $71.30. The company has a market capitalization of $12.98 billion and a P/E ratio of 27.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SOLV shares. Wells Fargo & Company upped their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Bank of America upped their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.86.

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.