Solventum Co. (NYSE:SOLV) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC trimmed its stake in shares of Solventum Co. (NYSE:SOLV) by 17.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,055 shares of the company’s stock after selling 1,266 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Solventum were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SOLV. Davis Selected Advisers purchased a new stake in shares of Solventum during the second quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum in the 2nd quarter valued at $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the 2nd quarter worth $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum during the second quarter worth about $96,242,000. Finally, Magnetar Financial LLC increased its position in Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the period.

Solventum Price Performance

Shares of NYSE:SOLV opened at $67.48 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock’s fifty day simple moving average is $70.54 and its 200-day simple moving average is $62.22. 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 research firms have commented on SOLV. Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Morgan Stanley increased their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Finally, Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.00.

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.