Wescott Financial Advisory Group LLC acquired a new position in shares of Solventum Co. (NYSE:SOLV – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 3,906 shares of the company’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Selected Advisers acquired a new stake in Solventum in the 2nd quarter valued at approximately $273,070,000. Nuance Investments LLC bought a new position in Solventum during the second quarter worth $115,829,000. Newport Trust Company LLC acquired a new position in Solventum during the 2nd quarter valued at $98,976,000. Baupost Group LLC MA bought a new stake in Solventum in the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC grew its position in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares during the last quarter.
Solventum Trading Down 0.1 %
Shares of Solventum stock opened at $70.04 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The stock’s 50-day moving average price is $61.85.
Wall Street Analyst Weigh In
Several equities analysts have commented on SOLV shares. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Bank of America lowered their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.25.
View Our Latest Stock Analysis 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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