Allstate Corp Makes New Investment in Solventum Co. (NYSE:SOLV)

Allstate Corp acquired a new stake in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,358 shares of the company’s stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Modus Advisors LLC bought a new position in Solventum in the fourth quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Solventum during the 4th quarter worth about $26,000. Crews Bank & Trust bought a new position in shares of Solventum in the 4th quarter valued at about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Solventum in the fourth quarter valued at about $35,000. Finally, Spire Wealth Management bought a new stake in Solventum during the fourth quarter worth about $37,000.

Solventum Stock Performance

Shares of SOLV stock opened at $76.54 on Thursday. The company has a market capitalization of $13.24 billion and a price-to-earnings ratio of 27.83. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a 50-day simple moving average of $75.66 and a 200 day simple moving average of $72.00.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Mizuho raised their target price on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and an average target price of $79.86.

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.