J. Safra Sarasin Holding AG Takes Position in Solventum Co. (NYSE:SOLV)

J. Safra Sarasin Holding AG purchased a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,024 shares of the company's stock, valued at approximately $1,521,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC grew its stake in shares of Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after purchasing an additional 136 shares during the last quarter. Blue Trust Inc. boosted its position in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after buying an additional 161 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock valued at $373,000 after buying an additional 168 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Solventum by 2.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock worth $584,000 after acquiring an additional 192 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the period.

Solventum Stock Up 1.7 %

NYSE:SOLV opened at $65.02 on Wednesday. The stock has a market cap of $11.25 billion and a price-to-earnings ratio of 23.64. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock has a 50-day moving average price of $73.04 and a two-hundred day moving average price of $71.60. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.

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