Bridgewater Associates LP Makes New $1.32 Million Investment in Solventum Co. (NYSE:SOLV)

Bridgewater Associates LP acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,875 shares of the company’s stock, valued at approximately $1,316,000.

Several other hedge funds have also recently bought and sold shares of the stock. Davis Selected Advisers acquired a new stake in Solventum during the second quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $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 acquired a new stake in shares of Solventum in the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC raised its position in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Solventum currently has an average rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Down 1.3 %

Shares of NYSE:SOLV opened at $71.51 on Monday. The company has a fifty day moving average of $70.55 and a 200-day moving average of $62.58. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

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.