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

DnB Asset Management AS lifted its position in Solventum Co. (NYSE:SOLV) by 12.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,043 shares of the company’s stock after acquiring an additional 2,844 shares during the period. DnB Asset Management AS’s holdings in Solventum were worth $1,720,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Solventum in the 4th quarter worth about $203,740,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Solventum in the third quarter worth approximately $125,488,000. Boston Partners purchased a new stake in shares of Solventum in the fourth quarter worth approximately $110,378,000. Point72 Asset Management L.P. bought a new stake in shares of Solventum during the 3rd quarter worth approximately $50,948,000. Finally, Nordea Investment Management AB boosted its holdings in Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after acquiring an additional 431,986 shares during the period.

Solventum Price Performance

NYSE SOLV opened at $76.29 on Wednesday. The company has a market cap of $13.20 billion and a PE ratio of 27.74. The firm’s 50 day moving average price is $75.60 and its 200-day moving average price is $71.97. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Bank of America raised their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Finally, Piper Sandler boosted their price target on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report 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. According to data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus price target 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.