TD Asset Management Inc purchased a new stake in shares of Solventum Co. (NYSE:SOLV – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 67,991 shares of the company’s stock, valued at approximately $3,595,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Solventum in the second quarter worth approximately $48,487,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Solventum in the 2nd quarter worth $24,533,000. Raymond James & Associates bought a new position in Solventum in the 2nd quarter worth $16,986,000. Rhumbline Advisers purchased a new position in Solventum during the second quarter valued at $13,738,000. Finally, Railway Pension Investments Ltd purchased a new stake in Solventum in the second quarter worth about $12,652,000.
Solventum Stock Performance
Solventum stock opened at $68.65 on Friday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The business has a 50-day moving average price of $58.32. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on SOLV. Wells Fargo & Company lowered their price objective 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 upped their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. BTIG Research assumed coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Argus started coverage on Solventum in a report on Monday, June 24th. They issued a “hold” rating on the stock. Finally, Morgan Stanley reduced their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.25.
View Our Latest Stock Report on SOLV
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.
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