Solventum Co. (NYSE:SOLV) Shares Sold by Aviva PLC

Aviva PLC lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,853 shares of the company’s stock after selling 12,300 shares during the quarter. Aviva PLC’s holdings in Solventum were worth $5,473,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Solventum in the 4th quarter worth approximately $203,740,000. Boston Partners acquired a new stake in Solventum in the 4th quarter valued at approximately $110,378,000. Nordea Investment Management AB increased its position in Solventum by 189.5% in 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. Arrowstreet Capital Limited Partnership increased its position in Solventum by 41.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company’s stock valued at $78,833,000 after acquiring an additional 347,669 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Solventum in the 4th quarter valued at approximately $18,583,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Bank of America lifted their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Piper Sandler lifted their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.86.

Solventum Trading Up 8.9 %

Solventum stock opened at $68.61 on Thursday. The firm has a 50-day moving average of $74.52 and a 200-day moving average of $71.75. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $11.87 billion and a price-to-earnings ratio of 24.95.

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.