DnB Asset Management AS Purchases 2,844 Shares of Solventum Co. (NYSE:SOLV)

DnB Asset Management AS grew its position in Solventum Co. (NYSE:SOLV) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,043 shares of the company’s stock after purchasing an additional 2,844 shares during the quarter. DnB Asset Management AS’s holdings in Solventum were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Solventum in the 3rd quarter worth $317,000. The Manufacturers Life Insurance Company lifted its position in shares of Solventum by 37.4% in the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after acquiring an additional 32,051 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Solventum in the third quarter worth about $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Solventum by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Solventum by 22.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,920 shares of the company’s stock valued at $343,000 after purchasing an additional 900 shares during the period.

Solventum Stock Up 0.3 %

Shares of NYSE SOLV opened at $76.29 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. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The firm’s 50-day moving average price is $75.60 and its 200-day moving average price is $71.97. The stock has a market capitalization of $13.20 billion and a price-to-earnings ratio of 27.74.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SOLV shares. Piper Sandler upped their price target on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Mizuho upped their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company lifted their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.