Orion Portfolio Solutions LLC acquired a new stake in shares of Solventum Co. (NYSE:SOLV - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,878 shares of the company's stock, valued at approximately $1,316,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. XTX Topco Ltd bought a new stake in Solventum in the 3rd quarter valued at $416,000. EP Wealth Advisors LLC bought a new stake in Solventum in the third quarter worth $355,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Solventum in the 3rd quarter worth about $356,000. Worldquant Millennium Advisors LLC raised its position in shares of Solventum by 373.6% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company's stock valued at $3,323,000 after buying an additional 37,600 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in Solventum in the third quarter worth about $2,292,000.
Solventum Price Performance
Solventum stock traded down $0.45 during midday trading on Friday, hitting $69.56. 637,853 shares of the company were exchanged, compared to its average volume of 824,329. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The business has a fifty day simple moving average of $70.91 and a two-hundred day simple moving average of $63.22. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SOLV. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They set a "peer perform" rating 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 report on Friday, November 8th. Morgan Stanley boosted their target price 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. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They set a "neutral" rating for the company. Finally, Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Solventum presently has an average rating of "Hold" and an average price target of $68.29.
Read Our Latest Research Report on Solventum
About Solventum
(
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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