Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,757 shares of the company's stock after buying an additional 6,841 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Solventum worth $7,383,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in shares of Solventum in the 4th quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in Solventum during the fourth quarter valued at about $26,000. Crews Bank & Trust bought a new stake in Solventum during the fourth quarter valued at about $32,000. True Wealth Design LLC grew its holdings in Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company's stock valued at $33,000 after purchasing an additional 471 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of Solventum in the third quarter worth about $35,000.
Solventum Trading Up 2.8 %
Shares of NYSE SOLV traded up $2.01 during midday trading on Friday, hitting $74.31. The company's stock had a trading volume of 1,142,880 shares, compared to its average volume of 1,434,765. 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 business's 50 day moving average is $74.52 and its two-hundred day moving average is $71.07. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The firm has a market cap of $12.85 billion and a P/E ratio of 27.02.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SOLV. Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Mizuho boosted their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. The Goldman Sachs Group boosted their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. Morgan Stanley boosted their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Bank of America upped their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $79.86.
View Our Latest Research Report on SOLV
About Solventum
(
Free Report)
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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