Worldquant Millennium Advisors LLC Increases Stock Position in Solventum Co. (NYSE:SOLV)

Worldquant Millennium Advisors LLC boosted its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 373.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,665 shares of the company's stock after buying an additional 37,600 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Solventum were worth $3,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SOLV. Davis Selected Advisers purchased a new stake in shares of Solventum in the 2nd quarter worth about $273,070,000. Nuance Investments LLC purchased a new stake in shares of Solventum in the second 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 approximately $98,976,000. Baupost Group LLC MA purchased a new position in shares of Solventum during the 2nd quarter worth approximately $96,242,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Solventum during the 3rd quarter worth approximately $125,488,000.

Solventum Stock Performance

Shares of NYSE SOLV traded up $0.39 during trading on Friday, hitting $69.96. 1,049,486 shares of the company traded hands, 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. The company has a 50-day moving average price of $70.69 and a 200-day moving average price of $62.88. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SOLV. The Goldman Sachs Group raised their price target on Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research report on Monday, August 12th. Wolfe Research started coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a "peer perform" rating for the company. Piper Sandler upped their target price on shares of Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target for the company. Finally, Morgan Stanley upped their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Solventum presently has an average rating of "Hold" and an average target price of $68.29.

About Solventum

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.