Intech Investment Management LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

Intech Investment Management LLC acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,553 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SOLV. Davis Selected Advisers purchased a new position in Solventum during the second quarter worth $273,070,000. Nuance Investments LLC bought a new stake in shares of Solventum during the second quarter worth $115,829,000. Newport Trust Company LLC bought a new stake in shares of Solventum during the second quarter worth $98,976,000. Baupost Group LLC MA bought a new stake in shares of Solventum during the second quarter worth $96,242,000. Finally, Magnetar Financial LLC lifted its position in shares of Solventum by 2,880.8% during 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 last quarter.

Solventum Price Performance

SOLV stock opened at $70.26 on Thursday. 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 price of $70.62 and a 200 day moving average price of $62.77. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SOLV shares. Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.29.

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.