Swiss National Bank Has $27.40 Million Stock Position in Solventum Co. (NYSE:SOLV)

Swiss National Bank reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 414,709 shares of the company’s stock after selling 21,000 shares during the period. Swiss National Bank’s holdings in Solventum were worth $27,396,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Solventum during the 3rd quarter worth approximately $125,488,000. Trian Fund Management L.P. grew its stake in shares of Solventum by 32.9% during the 3rd 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. bought a new position in shares of Solventum during the 3rd quarter worth approximately $50,948,000. Nordea Investment Management AB grew its stake 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 acquiring an additional 431,986 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Solventum during the 4th quarter worth approximately $18,583,000.

Solventum Trading Up 1.2 %

SOLV stock opened at $75.04 on Tuesday. 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 company has a fifty day moving average price of $74.65 and a two-hundred day moving average price of $71.30. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The stock has a market cap of $12.98 billion and a price-to-earnings ratio of 27.29.

Analysts Set New Price Targets

SOLV has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Bank of America raised their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Solventum presently has an average rating of “Hold” and an average target price of $79.86.

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.