Handelsbanken Fonder AB Takes Position in Solventum Co. (NYSE:SOLV)

Handelsbanken Fonder AB purchased a new position in Solventum Co. (NYSE:SOLV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,000 shares of the company’s stock, valued at approximately $2,312,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Modus Advisors LLC acquired a new stake in Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Solventum in the fourth quarter valued at approximately $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum in the fourth quarter valued at approximately $32,000. True Wealth Design LLC lifted its position in Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after buying an additional 471 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Solventum during the third quarter worth $35,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.29.

Solventum Stock Up 4.5 %

Shares of NYSE:SOLV opened at $76.30 on Tuesday. The business has a 50-day moving average price of $71.28 and a 200 day moving average price of $69.37. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. 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.