Solventum Co. (NYSE:SOLV) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,783 shares of the company’s stock after selling 15,610 shares during the quarter. BNP Paribas Financial Markets owned 0.10% of Solventum worth $12,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SOLV. Davis Selected Advisers purchased a new stake in Solventum during the 2nd quarter worth $273,070,000. Nuance Investments LLC purchased a new stake in shares of Solventum during the second quarter worth about $115,829,000. Newport Trust Company LLC purchased a new stake in shares of Solventum during the second quarter worth about $98,976,000. Baupost Group LLC MA acquired a new position in shares of Solventum in the second quarter worth about $96,242,000. Finally, Magnetar Financial LLC boosted its holdings in 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 purchasing an additional 1,440,410 shares during the last quarter.

Solventum Price Performance

NYSE SOLV opened at $71.51 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a 50-day simple moving average of $70.55 and a 200-day simple moving average of $62.58.

Analysts Set New Price Targets

SOLV has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. 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 upped their target price 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. Finally, Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. One equities 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.00.

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.