State Street Corp boosted its stake in Solventum Co. (NYSE:SOLV - Free Report) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,107,550 shares of the company's stock after purchasing an additional 185,938 shares during the quarter. State Street Corp owned about 3.54% of Solventum worth $425,818,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SOLV. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum in the 2nd quarter valued at about $25,000. Hollencrest Capital Management acquired a new stake in Solventum in the second quarter valued at approximately $25,000. Richard W. Paul & Associates LLC acquired a new stake in Solventum in the second quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in shares of Solventum during the second quarter valued at approximately $26,000. Finally, Copeland Capital Management LLC acquired a new position in shares of Solventum during the third quarter worth approximately $26,000.
Solventum Stock Performance
SOLV stock traded down $0.91 during midday trading on Tuesday, hitting $69.72. The company's stock had a trading volume of 721,317 shares, compared to its average volume of 1,658,792. 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 stock's 50-day moving average price is $70.71 and its 200 day moving average price is $62.96. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05.
Wall Street Analyst Weigh In
SOLV has been the subject of a number of recent research reports. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price target for the company. Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They set a "peer perform" rating for the company. Finally, BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.29.
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Solventum Profile
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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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