Handelsbanken Fonder AB Buys Shares of 35,000 Solventum Co. (NYSE:SOLV)

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

A number of other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC acquired a new position in Solventum during the 3rd quarter worth about $125,488,000. Trian Fund Management L.P. increased its stake in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Solventum during the third quarter worth about $50,948,000. Nordea Investment Management AB boosted its stake in shares of Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after purchasing an additional 431,986 shares during the period. Finally, General American Investors Co. Inc. acquired a new position in shares of Solventum in the third quarter valued at approximately $14,456,000.

Solventum Price Performance

Shares of SOLV opened at $76.30 on Tuesday. The firm’s fifty day simple moving average is $71.28 and its 200-day simple moving average is $69.37. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analyst Upgrades and Downgrades

SOLV has been the topic of several recent research reports. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.29.

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.