30,010 Shares in Solventum Corporation $SOLV Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. purchased a new stake in shares of Solventum Corporation (NYSE:SOLV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,010 shares of the company’s stock, valued at approximately $2,195,000. Solventum comprises approximately 1.3% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of SOLV. Fifth Third Bancorp grew its stake in Solventum by 6.9% in the 3rd quarter. Fifth Third Bancorp now owns 3,805 shares of the company’s stock valued at $278,000 after buying an additional 246 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Solventum by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 686,397 shares of the company’s stock valued at $50,107,000 after purchasing an additional 61,507 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Solventum by 9.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 52,990 shares of the company’s stock worth $3,868,000 after purchasing an additional 4,491 shares during the period. Shell Asset Management Co. lifted its position in shares of Solventum by 79.6% during the 3rd quarter. Shell Asset Management Co. now owns 2,599 shares of the company’s stock worth $190,000 after purchasing an additional 1,152 shares during the last quarter. Finally, GF Fund Management CO. LTD. boosted its stake in Solventum by 11.7% during the 3rd quarter. GF Fund Management CO. LTD. now owns 3,838 shares of the company’s stock valued at $280,000 after purchasing an additional 402 shares during the period.

Solventum Stock Down 0.5%

Shares of SOLV opened at $75.59 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $80.01 and a two-hundred day moving average price of $76.12. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 6.94 and a beta of 0.35. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $88.20.

Solventum declared that its board has approved a share buyback plan on Thursday, November 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp upgraded Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 price target for the company in a report on Monday, January 26th. Wall Street Zen lowered shares of Solventum from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Zacks Research lowered shares of Solventum from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Piper Sandler reissued an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. Finally, BTIG Research upgraded Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, December 2nd. Seven equities research 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, the stock currently has an average rating of “Hold” and a consensus target price of $90.83.

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.