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

Swedbank AB grew its stake in shares of Solventum Co. (NYSE:SOLV) by 20.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,197 shares of the company’s stock after buying an additional 18,108 shares during the period. Swedbank AB owned 0.06% of Solventum worth $7,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOLV. Davis Selected Advisers purchased a new position in Solventum during the second quarter valued at approximately $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum during the 2nd quarter valued at $115,829,000. Newport Trust Company LLC bought a new position in shares of Solventum in the second quarter worth $98,976,000. Baupost Group LLC MA purchased a new stake in shares of Solventum in the second quarter worth $96,242,000. Finally, Magnetar Financial LLC boosted its stake in Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares during the period.

Solventum Stock Performance

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SOLV shares. Morgan Stanley upped their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Stifel Nicolaus initiated coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler lifted their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Finally, BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.00.

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.