CIBC Asset Management Inc Has $1.35 Million Stock Position in Solventum Co. (NYSE:SOLV)

CIBC Asset Management Inc lifted its position in shares of Solventum Co. (NYSE:SOLV) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,291 shares of the company’s stock after purchasing an additional 1,408 shares during the quarter. CIBC Asset Management Inc’s holdings in Solventum were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SOLV. Deseret Mutual Benefit Administrators bought a new stake in Solventum in the 2nd quarter valued at $25,000. Hollencrest Capital Management bought a new position in Solventum during the second quarter worth about $25,000. Partnership Wealth Management LLC acquired a new stake in Solventum during the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum in the 2nd quarter worth approximately $26,000. Finally, Family Firm Inc. bought a new position in shares of Solventum during the 2nd quarter worth approximately $26,000.

Solventum Stock Up 2.0 %

Shares of SOLV stock opened at $68.39 on Thursday. The stock has a 50-day moving average of $70.49 and a 200-day moving average of $62.26. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Wolfe Research started coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley increased their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.00.

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.