Ontario Teachers Pension Plan Board purchased a new stake in shares of Solventum Co. (NYSE:SOLV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,988 shares of the company's stock, valued at approximately $1,742,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Solventum in the first quarter worth about $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Solventum during the 1st quarter valued at approximately $5,747,000. CWM LLC purchased a new position in shares of Solventum in the second quarter valued at $473,000. Great Valley Advisor Group Inc. bought a new stake in Solventum in the second quarter worth $493,000. Finally, First Horizon Advisors Inc. purchased a new stake in Solventum during the second quarter valued at $58,000.
Analysts Set New Price Targets
SOLV has been the topic of several recent research reports. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They set a "peer perform" rating on the stock. Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. BTIG Research initiated coverage on shares of Solventum in a report on Thursday, September 5th. They set a "neutral" rating for the company. The Goldman Sachs Group upped their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research note on Monday, August 12th. Finally, Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. One 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.00.
Read Our Latest Research Report on Solventum
Solventum Stock Performance
NYSE SOLV traded up $0.92 during midday trading on Thursday, hitting $69.31. 193,761 shares of the company traded hands, compared to its average volume of 1,710,190. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company's 50-day simple moving average is $70.49 and its 200-day simple moving average is $62.26. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.
Solventum Company Profile
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Free Report)
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.
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