KBC Group NV Has $1.99 Million Position in Solventum Co. (NYSE:SOLV)

KBC Group NV reduced its position in shares of Solventum Co. (NYSE:SOLV) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,467 shares of the company’s stock after selling 2,112 shares during the period. KBC Group NV’s holdings in Solventum were worth $1,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new stake in Solventum during the second quarter worth about $25,000. Hollencrest Capital Management bought a new stake in Solventum during the second quarter worth about $25,000. Partnership Wealth Management LLC bought a new stake in Solventum during the second quarter worth about $26,000. Richard W. Paul & Associates LLC bought a new stake in Solventum during the second quarter worth about $26,000. Finally, Family Firm Inc. bought a new stake in Solventum during the second quarter worth about $26,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley upped their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Trading Down 0.5 %

Shares of NYSE SOLV opened at $67.12 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The business’s 50 day moving average is $70.54 and its 200-day moving average is $62.20.

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.