Rhumbline Advisers Sells 28,163 Shares of Solventum Corporation $SOLV

Rhumbline Advisers lowered its holdings in Solventum Corporation (NYSE:SOLV) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,546 shares of the company’s stock after selling 28,163 shares during the period. Rhumbline Advisers owned approximately 0.17% of Solventum worth $20,991,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SOLV. CYBER HORNET ETFs LLC bought a new stake in shares of Solventum in the second quarter valued at approximately $28,000. Deseret Mutual Benefit Administrators lifted its position in shares of Solventum by 78.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock valued at $27,000 after acquiring an additional 163 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Solventum during the 2nd quarter worth $31,000. IMG Wealth Management Inc. bought a new position in shares of Solventum in the second quarter worth $31,000. Finally, State of Wyoming bought a new position in shares of Solventum in the second quarter worth $33,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOLV. Zacks Research downgraded shares of Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Wall Street Zen cut shares of Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a research note on Tuesday, January 27th. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a 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 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.83.

Solventum Stock Down 0.5%

Shares of NYSE:SOLV opened at $75.59 on Tuesday. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $88.20. The company has a market capitalization of $13.11 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 6.94 and a beta of 0.35. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50. The company has a fifty day moving average of $79.88 and a 200-day moving average of $76.15.

Solventum announced that its Board of Directors has approved a share buyback plan on Thursday, November 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.