Banco Santander S.A. Acquires New Shares in Solventum Co. (NYSE:SOLV)

Banco Santander S.A. bought a new position in Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,077 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOLV. Price T Rowe Associates Inc. MD bought a new stake in Solventum in the first quarter worth approximately $5,889,000. CWM LLC bought a new stake in Solventum in the second quarter worth $473,000. Great Valley Advisor Group Inc. acquired a new position in Solventum during the second quarter worth $493,000. First Horizon Advisors Inc. bought a new position in Solventum during the second quarter valued at about $58,000. Finally, Swedbank AB acquired a new stake in shares of Solventum in the second quarter worth about $4,711,000.

Solventum Stock Performance

NYSE:SOLV opened at $70.81 on Friday. The firm’s 50-day moving average is $70.53 and its 200-day moving average is $62.33. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SOLV. Wells Fargo & Company decreased their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. 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 for the company. Finally, Piper Sandler lifted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.00.

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.