Solventum Co. (NYSE:SOLV) Shares Acquired by KBC Group NV

KBC Group NV increased its stake in Solventum Co. (NYSE:SOLV - Free Report) by 725.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 234,933 shares of the company's stock after buying an additional 206,466 shares during the quarter. KBC Group NV owned about 0.14% of Solventum worth $15,520,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Trian Fund Management L.P. boosted its position in Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock valued at $496,842,000 after buying an additional 1,765,676 shares during the last quarter. State Street Corp boosted its holdings in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock valued at $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Geode Capital Management LLC grew its stake in Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company's stock valued at $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum during the 3rd quarter worth approximately $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Solventum by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company's stock valued at $73,469,000 after purchasing an additional 3,745 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on SOLV shares. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price target for the company. Piper Sandler raised their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Solventum has a consensus rating of "Hold" and a consensus target price of $68.29.

Solventum Price Performance

SOLV traded down $1.25 on Friday, hitting $74.05. 1,091,969 shares of the company's stock were exchanged, compared to its average volume of 937,219. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a fifty day moving average of $70.17 and a two-hundred day moving average of $67.21. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. On average, analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

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.