Swedbank AB Purchases 18,108 Shares of Solventum Co. (NYSE:SOLV)

Swedbank AB boosted its position in shares of Solventum Co. (NYSE:SOLV) by 20.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 107,197 shares of the company’s stock after acquiring an additional 18,108 shares during the quarter. Swedbank AB’s holdings in Solventum were worth $7,474,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Davis Selected Advisers bought a new position in shares of Solventum during the second quarter valued at about $273,070,000. Nuance Investments LLC purchased a new position in Solventum during the 2nd quarter valued at about $115,829,000. Newport Trust Company LLC bought a new position in Solventum during the 2nd quarter valued at approximately $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum in the 2nd quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC grew its position in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on SOLV shares. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, Piper Sandler increased their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Down 0.2 %

Shares of SOLV opened at $71.50 on Wednesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business’s 50 day moving average price is $70.51 and its 200-day moving average price is $62.40. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum Company 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.