Zurcher Kantonalbank Zurich Cantonalbank Has $7.32 Million Stock Position in Solventum Co. (NYSE:SOLV)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Solventum Co. (NYSE:SOLV) by 8.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 104,916 shares of the company’s stock after buying an additional 8,092 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Solventum were worth $7,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Davis Selected Advisers acquired a new position in Solventum in the second quarter valued at about $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum in the 2nd quarter worth approximately $115,829,000. Newport Trust Company LLC acquired a new position in shares of Solventum in the 2nd quarter worth approximately $98,976,000. Baupost Group LLC MA bought a new stake in Solventum during the 2nd quarter worth approximately $96,242,000. Finally, Trian Fund Management L.P. increased its holdings in Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SOLV shares. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Morgan Stanley boosted 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. Piper Sandler increased their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Solventum Stock Down 1.3 %

SOLV opened at $71.51 on Monday. The firm has a 50 day simple moving average of $70.55 and a 200 day simple moving average of $62.58. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week 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 Company 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.