National Bank of Canada FI Boosts Stock Holdings in Solventum Co. (NYSE:SOLV)

National Bank of Canada FI boosted its position in Solventum Co. (NYSE:SOLV - Free Report) by 1,587.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,977 shares of the company's stock after acquiring an additional 63,949 shares during the period. National Bank of Canada FI's holdings in Solventum were worth $4,491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SOLV. Norges Bank bought a new position in shares of Solventum in the 4th quarter worth $203,740,000. Boston Partners bought a new position in shares of Solventum in the fourth quarter valued at $110,378,000. Nordea Investment Management AB lifted its stake in shares of Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock valued at $43,902,000 after buying an additional 431,986 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Solventum by 41.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after buying an additional 347,669 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Solventum during the fourth quarter worth about $18,583,000.

Solventum Stock Performance

Shares of Solventum stock traded up $1.02 during trading hours on Friday, hitting $66.19. 1,035,827 shares of the company's stock traded hands, compared to its average volume of 1,341,397. The stock has a market capitalization of $11.45 billion and a price-to-earnings ratio of 24.07. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. 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 company has a fifty day simple moving average of $74.19 and a 200-day simple moving average of $71.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America raised their price target on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Piper Sandler increased their price target on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.