Swedbank AB Cuts Stock Position in Solventum Co. (NYSE:SOLV)

Swedbank AB reduced its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,263 shares of the company's stock after selling 4,934 shares during the quarter. Swedbank AB owned about 0.06% of Solventum worth $6,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SOLV. Modus Advisors LLC purchased a new position in shares of Solventum in the fourth quarter valued at $25,000. Copeland Capital Management LLC purchased a new position in shares of Solventum in the third quarter valued at $26,000. Mather Group LLC. purchased a new position in shares of Solventum in the third quarter valued at $27,000. True Wealth Design LLC grew its holdings in shares of Solventum by 23,550.0% in 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 in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Solventum in the third quarter valued at $35,000.

Solventum Stock Performance

Shares of NYSE:SOLV traded up $0.13 on Wednesday, hitting $74.74. 451,706 shares of the company's stock were exchanged, compared to its average volume of 976,861. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The business's 50 day simple moving average is $70.27 and its two-hundred day simple moving average is $67.71. 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 (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.05 billion. Research analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of recent research reports. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Stifel Nicolaus started coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a "buy" rating and a $82.00 target price for the company. Piper Sandler lifted their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, Mizuho started coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price objective for the company. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $68.29.

Solventum 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.