Nordea Investment Management AB Purchases 431,986 Shares of Solventum Co. (NYSE:SOLV)

Nordea Investment Management AB raised its holdings in shares of Solventum Co. (NYSE:SOLV) by 189.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 659,887 shares of the company’s stock after acquiring an additional 431,986 shares during the period. Nordea Investment Management AB’s holdings in Solventum were worth $43,902,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC raised its position in Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after purchasing an additional 37,600 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Solventum by 37.4% in the 3rd 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 during the last quarter. State Street Corp boosted its holdings in Solventum by 3.1% during the 3rd 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. Point72 Asset Management L.P. bought a new position in Solventum during the 3rd quarter worth approximately $50,948,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Solventum in the 3rd quarter worth approximately $125,488,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Morgan Stanley increased their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Wolfe Research initiated coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Solventum presently has a consensus rating of “Hold” and a consensus target price of $68.29.

Solventum Price Performance

Solventum stock opened at $69.46 on Wednesday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The stock’s 50 day simple moving average is $69.59 and its two-hundred day simple moving average is $64.63. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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.