Bastion Asset Management Inc. Buys Shares of 30,010 Solventum Corporation $SOLV

Bastion Asset Management Inc. acquired a new position in Solventum Corporation (NYSE:SOLV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,010 shares of the company’s stock, valued at approximately $2,195,000. Solventum accounts for approximately 1.3% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding.

Several other large investors have also recently bought and sold shares of SOLV. Nisa Investment Advisors LLC boosted its position in shares of Solventum by 0.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,974 shares of the company’s stock valued at $2,577,000 after purchasing an additional 210 shares during the period. South Dakota Investment Council boosted its holdings in shares of Solventum by 3.6% in the second quarter. South Dakota Investment Council now owns 255,625 shares of the company’s stock worth $19,387,000 after buying an additional 8,960 shares during the period. Purus Wealth Management LLC purchased a new position in shares of Solventum in the second quarter worth approximately $252,000. Terril Brothers Inc. raised its holdings in shares of Solventum by 15.3% during the second quarter. Terril Brothers Inc. now owns 96,516 shares of the company’s stock valued at $7,320,000 after acquiring an additional 12,800 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Solventum in the 2nd quarter valued at approximately $3,076,000.

Solventum Price Performance

NYSE SOLV opened at $75.59 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03. The stock 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. Solventum Corporation has a 12-month low of $60.70 and a 12-month high of $88.20. The company has a 50 day moving average price of $80.01 and a two-hundred day moving average price of $76.12.

Solventum announced that its board has initiated a stock repurchase program on Thursday, November 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SOLV. Wall Street Zen downgraded shares of Solventum from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Stifel Nicolaus increased their price objective on Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. KeyCorp upgraded shares of Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 price target for the company in a report on Monday, January 26th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.83.

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.