LMR Partners LLP Acquires 151,424 Shares of Solventum Co. (NYSE:SOLV)

LMR Partners LLP boosted its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 552.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 178,828 shares of the company's stock after purchasing an additional 151,424 shares during the quarter. LMR Partners LLP owned approximately 0.10% of Solventum worth $12,468,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Davis Selected Advisers acquired a new position in Solventum in the second quarter valued at $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum in the 2nd quarter worth about $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum in the second quarter valued at about $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum in the second quarter valued at about $96,242,000. Finally, Magnetar Financial LLC grew its stake in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company's stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of recent research reports. Stifel Nicolaus started coverage on Solventum in a research note on Tuesday, October 8th. They issued a "buy" rating and a $82.00 target price for the company. The Goldman Sachs Group lifted their target price on Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research report on Monday, August 12th. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They issued a "neutral" rating for the company. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Finally, Piper Sandler raised 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $68.00.

Solventum Trading Down 0.6 %

Solventum stock traded down $0.41 during trading hours on Monday, hitting $67.07. The company had a trading volume of 499,885 shares, compared to its average volume of 1,727,512. The firm's fifty day moving average is $70.54 and its 200-day moving average is $62.18. 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 Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

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.