Swiss National Bank Sells 21,000 Shares of Solventum Co. (NYSE:SOLV)

Swiss National Bank decreased its position in Solventum Co. (NYSE:SOLV) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 414,709 shares of the company’s stock after selling 21,000 shares during the quarter. Swiss National Bank owned 0.24% of Solventum worth $27,396,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SOLV. Principal Financial Group Inc. grew its holdings in shares of Solventum by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after purchasing an additional 4,896 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Solventum by 93.2% in the 3rd quarter. Atria Investments Inc now owns 11,699 shares of the company’s stock worth $816,000 after purchasing an additional 5,644 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Solventum by 137.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,589 shares of the company’s stock worth $3,736,000 after purchasing an additional 31,007 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Solventum in the 3rd quarter worth about $315,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Solventum by 7.9% in the 3rd quarter. CIBC Asset Management Inc now owns 19,291 shares of the company’s stock worth $1,345,000 after purchasing an additional 1,408 shares during the last quarter.

Solventum Stock Performance

Shares of NYSE:SOLV opened at $75.04 on Tuesday. The company has a market capitalization of $12.98 billion and a price-to-earnings ratio of 27.29. The firm’s 50 day simple moving average is $74.65 and its 200 day simple moving average is $71.30. 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 Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.86.

About Solventum

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.