Norges Bank Invests $203.74 Million in Solventum Co. (NYSE:SOLV)

Norges Bank bought a new stake in Solventum Co. (NYSE:SOLV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,084,166 shares of the company’s stock, valued at approximately $203,740,000. Norges Bank owned approximately 1.79% of Solventum at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Solventum by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock valued at $1,074,591,000 after buying an additional 75,631 shares in the last quarter. State Street Corp increased its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after acquiring an additional 185,938 shares during the period. Geode Capital Management LLC raised its position in Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Solventum during the third quarter worth about $125,488,000. Finally, Boston Partners acquired a new stake in Solventum during the fourth quarter valued at approximately $110,378,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SOLV. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Piper Sandler increased their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Morgan Stanley boosted 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. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.86.

Solventum Trading Down 1.0 %

SOLV opened at $74.78 on Monday. The firm has a 50 day simple moving average of $75.51 and a 200 day simple moving average of $71.87. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company has a market cap of $12.94 billion and a price-to-earnings ratio of 27.19. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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.