Illinois Municipal Retirement Fund Buys 18,209 Shares of Solventum Corporation $SOLV

Illinois Municipal Retirement Fund lifted its position in Solventum Corporation (NYSE:SOLV) by 63.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,892 shares of the company’s stock after purchasing an additional 18,209 shares during the period. Illinois Municipal Retirement Fund’s holdings in Solventum were worth $3,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. LSV Asset Management boosted its position in shares of Solventum by 364.5% during the 3rd quarter. LSV Asset Management now owns 35,122 shares of the company’s stock valued at $2,564,000 after acquiring an additional 27,561 shares during the last quarter. Cibc World Market Inc. purchased a new stake in Solventum in the third quarter valued at approximately $919,000. Stratos Wealth Partners LTD. lifted its position in Solventum by 51.5% during the third quarter. Stratos Wealth Partners LTD. now owns 5,267 shares of the company’s stock valued at $384,000 after purchasing an additional 1,791 shares during the last quarter. Investment Management Associates Inc. ADV raised its position in shares of Solventum by 10.3% during the 3rd 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. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Solventum by 8.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 3,781 shares of the company’s stock worth $276,000 after acquiring an additional 307 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. Zacks Research downgraded Solventum from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen lowered Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Mizuho set a $100.00 price target on shares of Solventum and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Piper Sandler restated an “overweight” rating on shares of Solventum in a report on Wednesday, December 17th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Solventum presently has an average rating of “Hold” and an average price target of $90.83.

Solventum Price Performance

Shares of Solventum stock opened at $75.59 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. Solventum Corporation has a one year low of $60.70 and a one year high of $88.20. The business’s 50 day simple moving average is $80.01 and its two-hundred day simple moving average is $76.10. The stock has a market capitalization of $13.11 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 6.94 and a beta of 0.35.

Solventum announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.