Nuance Investments LLC lowered its position in Solventum Co. (NYSE:SOLV - Free Report) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,639,353 shares of the company's stock after selling 551,057 shares during the quarter. Solventum comprises about 3.8% of Nuance Investments LLC's portfolio, making the stock its 10th largest position. Nuance Investments LLC owned 0.95% of Solventum worth $114,296,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum in the 1st quarter valued at $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Solventum during the 1st quarter worth about $209,000. LRI Investments LLC acquired a new stake in Solventum during the first quarter worth approximately $43,000. Magnetar Financial LLC acquired a new stake in Solventum during the 1st quarter worth approximately $3,478,000. Finally, Alpine Global Management LLC purchased a new stake in Solventum during the first quarter worth about $1,766,000.
Analyst Ratings Changes
Several brokerages have recently weighed in on SOLV. BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They issued a "neutral" rating for the company. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group upped their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research note on Monday, August 12th. Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Finally, Wolfe Research assumed coverage on Solventum in a research note on Thursday, September 26th. They issued a "peer perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $68.00.
Check Out Our Latest Analysis on Solventum
Solventum Stock Performance
NYSE:SOLV traded up $1.34 during trading hours on Wednesday, hitting $68.39. 952,912 shares of the company traded hands, compared to its average volume of 1,719,542. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The firm's 50-day simple moving average is $70.51 and its 200-day simple moving average is $62.21. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.
Solventum Profile
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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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