Swiss National Bank Lowers Position in Solventum Co. (NYSE:SOLV)

Swiss National Bank cut its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,709 shares of the company's stock after selling 21,000 shares during the quarter. Swiss National Bank owned 0.24% of Solventum worth $27,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SOLV. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Solventum during the 3rd quarter worth approximately $125,488,000. Trian Fund Management L.P. raised its position 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 worth $496,842,000 after acquiring an additional 1,765,676 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Solventum in the third quarter valued at $50,948,000. Nordea Investment Management AB boosted its position in shares of Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock worth $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Solventum during the 4th quarter worth $18,583,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOLV. Bank of America raised their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research 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 lifted their price objective on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.86.

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Solventum Trading Down 1.3 %

Shares of SOLV traded down $0.99 on Friday, hitting $74.00. 1,919,800 shares of the stock traded hands, compared to its average volume of 1,429,745. The firm has a market capitalization of $12.80 billion and a P/E ratio of 26.91. 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 1 year low of $47.16 and a 1 year high of $85.92. The stock's 50 day moving average is $75.04 and its two-hundred day moving average is $71.44.

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.