Redwood Investment Management LLC Has $858,000 Stock Position in Solventum Co. (NYSE:SOLV)

Redwood Investment Management LLC boosted its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 152.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,693 shares of the company's stock after purchasing an additional 7,668 shares during the period. Redwood Investment Management LLC's holdings in Solventum were worth $858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trian Fund Management L.P. lifted its position in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock worth $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. Davis Selected Advisers acquired a new position in shares of Solventum during the 2nd quarter worth about $273,070,000. Nuance Investments LLC bought a new position in shares of Solventum in the 2nd quarter valued at 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. Finally, Baupost Group LLC MA bought a new stake in Solventum during the second quarter worth about $96,242,000.

Solventum Price Performance

SOLV traded up $0.39 on Friday, reaching $69.96. The company had a trading volume of 1,049,486 shares, compared to its average volume of 1,002,431. 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. The company's fifty day moving average is $70.65 and its 200 day moving average is $62.82.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SOLV. Piper Sandler raised their price target on Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a research note on Monday, August 12th. Morgan Stanley upped their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Mizuho started coverage on shares of Solventum in a research note on Wednesday. They set a "neutral" rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a "buy" rating and a $82.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.29.

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.