Mondrian Investment Partners LTD Invests $727,000 in Solventum Corporation $SOLV

Mondrian Investment Partners LTD bought a new position in Solventum Corporation (NYSE:SOLV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,956 shares of the company’s stock, valued at approximately $727,000.

Several other hedge funds have also modified their holdings of the stock. Independent Franchise Partners LLP increased its stake in Solventum by 74.2% in the 2nd quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company’s stock worth $769,098,000 after purchasing an additional 4,320,342 shares in the last quarter. Norges Bank purchased a new stake in Solventum during the second quarter valued at about $140,495,000. Vanguard Group Inc. boosted its holdings in shares of Solventum by 5.3% in the third quarter. Vanguard Group Inc. now owns 17,121,198 shares of the company’s stock worth $1,249,847,000 after buying an additional 867,837 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Solventum by 60.3% in the third quarter. Assenagon Asset Management S.A. now owns 928,830 shares of the company’s stock worth $67,805,000 after acquiring an additional 349,463 shares in the last quarter. Finally, Boston Partners increased its position in shares of Solventum by 9.2% in the second quarter. Boston Partners now owns 3,670,757 shares of the company’s stock worth $278,363,000 after acquiring an additional 308,784 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SOLV shares. Mizuho set a $100.00 price target on shares of Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. UBS Group reiterated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a research report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solventum currently has an average rating of “Hold” and an average price target of $90.83.

Solventum Price Performance

Shares of NYSE:SOLV opened at $75.59 on Tuesday. The firm 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 1 year low of $60.70 and a 1 year high of $88.20. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $79.88 and a 200 day simple moving average of $76.15.

Solventum announced that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.