Cibc World Market Inc. Acquires New Holdings in Solventum Corporation $SOLV

Cibc World Market 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 12,590 shares of the company’s stock, valued at approximately $919,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho set a $100.00 price objective on shares of Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. 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 report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a report on Tuesday, January 27th. UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. Finally, KeyCorp upgraded Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 target price for the company in a report on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.83.

Solventum Stock Performance

Shares of SOLV opened at $73.72 on Wednesday. The company has a market capitalization of $12.79 billion, a PE ratio of 8.49, a PEG 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’s 50 day moving average price is $79.75 and its 200 day moving average price is $76.16. Solventum Corporation has a 52 week low of $60.70 and a 52 week high of $88.20.

Solventum announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.