Clark Estates Inc. NY Takes Position in Solventum Corporation $SOLV

Clark Estates Inc. NY bought a new stake in Solventum Corporation (NYSE:SOLV) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 155,000 shares of the company’s stock, valued at approximately $11,315,000. Solventum makes up approximately 2.6% of Clark Estates Inc. NY’s portfolio, making the stock its 10th biggest holding.

A number of other large investors have also modified their holdings of SOLV. Equitable Trust Co. increased its holdings in Solventum by 27.3% during the 3rd quarter. Equitable Trust Co. now owns 7,886 shares of the company’s stock worth $576,000 after purchasing an additional 1,690 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Solventum during the third quarter worth approximately $268,000. Pzena Investment Management LLC acquired a new stake in Solventum during the 3rd quarter worth $31,701,000. Syon Capital LLC lifted its holdings in shares of Solventum by 13.8% in the 3rd quarter. Syon Capital LLC now owns 3,148 shares of the company’s stock valued at $230,000 after purchasing an additional 381 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its stake in Solventum by 8.5% in the third quarter. Advisors Capital Management LLC now owns 52,101 shares of the company’s stock valued at $3,803,000 after buying an additional 4,087 shares during the last quarter.

Solventum Trading Down 1.0%

Shares of SOLV opened at $72.87 on Monday. The firm has a market capitalization of $12.64 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 6.70 and a beta of 0.35. Solventum Corporation has a twelve month low of $60.70 and a twelve month 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 stock’s fifty day simple moving average is $79.23 and its 200 day simple moving average is $76.18.

Solventum announced that its Board of Directors has authorized a stock buyback program on Thursday, November 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SOLV has been the subject of several recent research reports. BTIG Research upgraded shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, December 2nd. Mizuho set a $100.00 target price on shares of Solventum and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Stifel Nicolaus upped their price target on Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a report on Tuesday, January 27th. Finally, Zacks Research downgraded Solventum from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Seven 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.83.

About Solventum

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.