Norges Bank Invests $203.74 Million in Solventum Co. (NYSE:SOLV)

Norges Bank bought a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,084,166 shares of the company's stock, valued at approximately $203,740,000. Norges Bank owned approximately 1.79% of Solventum as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Solventum during the third quarter valued at approximately $317,000. Bank of Montreal Can increased its holdings in shares of Solventum by 15.8% in the 3rd quarter. Bank of Montreal Can now owns 182,748 shares of the company's stock valued at $12,348,000 after acquiring an additional 25,002 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company's stock valued at $8,217,000 after acquiring an additional 32,051 shares in the last quarter. Townsquare Capital LLC bought a new position in Solventum during the third quarter worth $544,000. Finally, Bridgewater Associates LP acquired a new position in Solventum in the third quarter worth $1,316,000.

Solventum Stock Performance

Solventum stock traded down $4.32 during mid-day trading on Thursday, hitting $72.30. 1,598,783 shares of the company's stock traded hands, compared to its average volume of 1,123,489. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The firm has a 50 day moving average price of $75.66 and a 200 day moving average price of $72.00. The company has a market cap of $12.51 billion and a PE ratio of 26.29.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Mizuho increased their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Wells Fargo & Company increased their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $79.86.

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.