Zurcher Kantonalbank Zurich Cantonalbank Has $7.32 Million Stock Holdings in Solventum Co. (NYSE:SOLV)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Solventum Co. (NYSE:SOLV - Free Report) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,916 shares of the company's stock after buying an additional 8,092 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Solventum worth $7,315,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Boussard & Gavaudan Investment Management LLP bought a new position in Solventum during the 3rd quarter worth about $4,308,000. Trian Fund Management L.P. boosted its position in shares of Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock worth $496,842,000 after buying an additional 1,765,676 shares during the period. Clifford Capital Partners LLC grew its holdings in shares of Solventum by 22.6% during the third quarter. Clifford Capital Partners LLC now owns 279,479 shares of the company's stock worth $19,485,000 after buying an additional 51,533 shares in the last quarter. Kiltearn Partners LLP acquired a new stake in Solventum in the 3rd quarter valued at approximately $2,838,000. Finally, Bridgewater Associates LP acquired a new stake in Solventum in the 3rd quarter valued at approximately $1,316,000.

Solventum Price Performance

Solventum stock traded up $0.44 during midday trading on Monday, reaching $71.95. 984,368 shares of the company's stock were exchanged, compared to its average volume of 1,685,013. The stock's 50-day simple moving average is $70.55 and its 200 day simple moving average is $62.58. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SOLV. Wells Fargo & Company decreased their price target on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating for the company in a research note on Friday, August 9th. Wolfe Research started coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a "peer perform" rating on the stock. Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target on the stock. Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Finally, Piper Sandler upped their target price on Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $68.00.

About Solventum

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.