ING Groep NV Buys New Position in Solventum Co. (NYSE:SOLV)

ING Groep NV purchased a new stake in Solventum Co. (NYSE:SOLV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,651 shares of the company’s stock, valued at approximately $1,166,000.

Several other large investors have also bought and sold shares of SOLV. Trian Fund Management L.P. boosted its stake in shares of Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after buying an additional 1,765,676 shares during the last quarter. State Street Corp lifted its holdings in 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 acquiring an additional 185,938 shares during the period. Geode Capital Management LLC lifted its holdings in Solventum by 4.0% during the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after acquiring an additional 128,317 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Solventum in the third quarter worth $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Solventum by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock valued at $73,469,000 after purchasing an additional 3,745 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on 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 lifted their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho began coverage on shares of Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.29.

Solventum Trading Down 1.9 %

SOLV opened at $73.08 on Monday. The firm has a 50-day moving average price of $71.14 and a 200-day moving average price of $69.24. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.