Atom Investors LP Sells 45,424 Shares of Solventum Co. (NYSE:SOLV)

Atom Investors LP lowered its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 56.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,752 shares of the company's stock after selling 45,424 shares during the period. Atom Investors LP's holdings in Solventum were worth $2,423,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new stake in Solventum in the 1st quarter valued at $5,889,000. CWM LLC acquired a new stake in shares of Solventum in the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. acquired a new position in Solventum in the second quarter valued at about $493,000. First Horizon Advisors Inc. bought a new position in Solventum in the second quarter valued at approximately $58,000. Finally, Swedbank AB bought a new stake in shares of Solventum in the second quarter valued at about $4,711,000.

Solventum Price Performance

SOLV stock traded down $1.93 during trading on Tuesday, hitting $70.06. 652,544 shares of the stock traded hands, compared to its average volume of 1,678,917. The firm's 50 day moving average is $70.55 and its two-hundred day moving average is $62.58. 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 1 year low of $47.16 and a 1 year high of $96.05.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research report on Monday, August 12th. Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They set a "neutral" rating for the company. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Solventum has an average rating of "Hold" and a consensus price target of $68.00.

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.