SVB Wealth LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

SVB Wealth LLC acquired a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,468 shares of the company's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOLV. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Solventum during the third quarter worth $125,488,000. Trian Fund Management L.P. raised its stake in Solventum by 32.9% in the third 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. Point72 Asset Management L.P. acquired a new stake in Solventum in the third quarter worth about $50,948,000. Nordea Investment Management AB boosted its holdings in Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock worth $43,902,000 after acquiring an additional 431,986 shares in the last quarter. Finally, General American Investors Co. Inc. purchased a new stake in shares of Solventum during the third quarter worth about $14,456,000.

Solventum Stock Performance

Shares of NYSE SOLV traded down $2.14 during midday trading on Thursday, reaching $75.69. 1,066,184 shares of the stock were exchanged, compared to its average volume of 1,444,759. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm has a 50-day simple moving average of $73.25 and a two-hundred day simple moving average of $70.39. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The firm has a market cap of $13.08 billion and a price-to-earnings ratio of 27.52.

Analyst Ratings Changes

A number of research analysts have issued reports on SOLV shares. Piper Sandler raised their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Morgan Stanley boosted their price target on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Bank of America increased their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $79.86.

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.