MetLife Investment Management LLC Has $2.51 Million Position in Solventum Co. (NYSE:SOLV)

MetLife Investment Management LLC lowered its position in Solventum Co. (NYSE:SOLV) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,931 shares of the company’s stock after selling 927 shares during the quarter. MetLife Investment Management LLC’s holdings in Solventum were worth $2,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. Davis Selected Advisers bought a new stake in Solventum in the second quarter valued at approximately $273,070,000. Nuance Investments LLC bought a new stake in Solventum in the second quarter valued at approximately $115,829,000. Newport Trust Company LLC bought a new stake in Solventum in the second quarter valued at approximately $98,976,000. Baupost Group LLC MA bought a new stake in Solventum in the second quarter valued at approximately $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 acquiring an additional 1,440,410 shares during the last quarter.

Solventum Stock Down 0.7 %

Shares of NYSE:SOLV opened at $70.26 on Thursday. 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 twelve month low of $47.16 and a twelve month high of $96.05. The stock’s 50 day moving average is $70.62 and its 200-day moving average is $62.77.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several analyst reports. Wolfe Research initiated coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Morgan Stanley increased their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Mizuho assumed coverage on Solventum in a report on Wednesday. They set a “neutral” rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the stock 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 price target of $68.29.

Solventum Company 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.