Y Intercept Hong Kong Ltd Invests $1.15 Million in Solventum Co. (NYSE:SOLV)

Y Intercept Hong Kong Ltd acquired a new position in Solventum Co. (NYSE:SOLV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,480 shares of the company's stock, valued at approximately $1,149,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Copeland Capital Management LLC purchased a new position in Solventum in the 3rd quarter worth $26,000. Mather Group LLC. bought a new position in shares of Solventum in the third quarter worth approximately $27,000. Hollencrest Capital Management purchased a new position in shares of Solventum in the second quarter worth $25,000. True Wealth Design LLC raised its stake in shares of Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company's stock valued at $33,000 after acquiring an additional 471 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators purchased a new position in Solventum during the 2nd quarter valued at about $25,000.

Solventum Price Performance

SOLV stock traded down $0.48 during trading on Thursday, reaching $70.01. The stock had a trading volume of 620,012 shares, compared to its average volume of 1,647,401. 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 is $70.82 and its two-hundred day moving average is $63.08. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Wall Street Analysts Forecast Growth

A number of 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 on the stock. Stifel Nicolaus began coverage on Solventum in a research report on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price target for the company. Mizuho assumed coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price objective on the stock. Piper Sandler lifted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, Wolfe Research started coverage on shares of Solventum in a report on Thursday, September 26th. They set a "peer perform" rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $68.29.

Solventum 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.