ING Groep NV Takes $1.17 Million Position in Solventum Co. (NYSE:SOLV)

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC increased its holdings in shares of Solventum by 373.6% during the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after buying an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after acquiring an additional 9,333 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Solventum by 37.4% in the 3rd 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 raised its position in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden bought a new position in Solventum in the fourth quarter valued at about $1,876,000.

Solventum Price Performance

NYSE:SOLV opened at $73.08 on Monday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm’s fifty day moving average is $71.14 and its 200-day moving average is $69.24.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Mizuho assumed coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.29.

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.