Skandinaviska Enskilda Banken AB publ Grows Position in Solventum Co. (NYSE:SOLV)

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Solventum Co. (NYSE:SOLV) by 51.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,767 shares of the company’s stock after buying an additional 28,154 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Solventum were worth $5,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Worldquant Millennium Advisors LLC lifted its position in Solventum by 373.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after buying an additional 37,600 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after purchasing an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after purchasing an additional 32,051 shares in the last quarter. State Street Corp increased its stake in shares of Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares during the period. Finally, Forsta AP Fonden purchased a new stake in shares of Solventum during the fourth quarter worth approximately $1,876,000.

Solventum Trading Up 2.8 %

Shares of SOLV stock opened at $74.31 on Friday. The firm has a 50-day moving average price of $74.52 and a 200 day moving average price of $71.14. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a market capitalization of $12.85 billion and a price-to-earnings ratio of 27.02. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Wall Street Analyst Weigh In

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

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.