Wellington Management Group LLP lowered its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 68.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,933 shares of the company's stock after selling 14,735 shares during the period. Wellington Management Group LLP's holdings in Solventum were worth $483,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Davis Selected Advisers purchased a new stake in Solventum in the second quarter worth $273,070,000. Nuance Investments LLC purchased a new stake in Solventum in the 2nd quarter worth about $115,829,000. Newport Trust Company LLC bought a new stake in Solventum in the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum during the second quarter valued at about $96,242,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum during the third quarter valued at about $125,488,000.
Solventum Trading Up 0.0 %
NYSE SOLV traded up $0.03 during trading on Friday, reaching $66.83. The company's stock had a trading volume of 1,770,990 shares, compared to its average volume of 1,624,806. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a fifty day moving average of $70.90 and a 200 day moving average of $63.55. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.
Analyst Ratings Changes
Several analysts have recently issued reports on SOLV shares. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a "neutral" rating on the stock. 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 report on Monday, November 11th. Stifel Nicolaus started coverage on Solventum in a report on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price target for the company. Piper Sandler boosted their price objective on Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 target price for the company. 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 stock. According to data from MarketBeat, Solventum has an average rating of "Hold" and a consensus target price of $68.29.
Check Out Our Latest Stock Report on Solventum
Solventum Company Profile
(
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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