Kentucky Retirement Systems Sells 786 Shares of Solventum Co. (NYSE:SOLV)

Kentucky Retirement Systems trimmed its holdings in Solventum Co. (NYSE:SOLV) by 7.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,626 shares of the company’s stock after selling 786 shares during the quarter. Kentucky Retirement Systems’ holdings in Solventum were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Davis Selected Advisers bought a new position in shares of Solventum in the second quarter valued at about $273,070,000. Nuance Investments LLC bought a new position in shares of Solventum in the second quarter valued at about $115,829,000. Newport Trust Company LLC bought a new position in shares of Solventum in the second quarter valued at about $98,976,000. Baupost Group LLC MA acquired a new stake in Solventum in the second quarter worth about $96,242,000. Finally, Magnetar Financial LLC increased its position in Solventum by 2,880.8% in the second 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 period.

Solventum Stock Down 0.1 %

Solventum stock opened at $67.05 on Wednesday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The business has a 50-day moving average of $70.51 and a 200-day moving average of $62.21. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Piper Sandler lifted their price objective on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Wolfe Research assumed coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. 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 stock has a consensus rating of “Hold” and an average target price 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.