Paloma Partners Management Co Makes New $951,000 Investment in Solventum Co. (NYSE:SOLV)

Paloma Partners Management Co bought a new position in Solventum Co. (NYSE:SOLV - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,642 shares of the company's stock, valued at approximately $951,000.

A number of other institutional investors also recently modified their holdings of SOLV. Price T Rowe Associates Inc. MD bought a new position in Solventum in the 1st quarter valued at about $5,889,000. EverSource Wealth Advisors LLC bought a new position in Solventum during the 1st quarter valued at $30,000. GAMMA Investing LLC bought a new position in Solventum during the 2nd quarter valued at $74,000. Massmutual Trust Co. FSB ADV purchased a new position in Solventum during the 2nd quarter worth $34,000. Finally, DNB Asset Management AS purchased a new stake in shares of Solventum in the second quarter valued at about $1,227,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SOLV. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a report on Monday, August 12th. Wells Fargo & Company reduced their target price on Solventum from $69.00 to $64.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target on the stock. BTIG Research initiated coverage on Solventum in a research note on Thursday, September 5th. They issued a "neutral" rating for the company. Finally, Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $68.00.

Solventum Stock Down 1.7 %

SOLV traded down $1.24 during trading hours on Tuesday, hitting $70.75. The stock had a trading volume of 1,254,569 shares, compared to its average volume of 1,682,539. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company's fifty day simple moving average is $70.60 and its 200 day simple moving average is $62.72. 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 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.