Quantinno Capital Management LP Makes New Investment in Solventum Co. (NYSE:SOLV)

Quantinno Capital Management LP acquired a new position in Solventum Co. (NYSE:SOLV) in the 3rd quarter, Holdings Channel reports. The firm acquired 6,426 shares of the company’s stock, valued at approximately $448,000.

A number of other hedge funds have also made changes to their positions in the business. Redwood Investment Management LLC increased its holdings in Solventum by 152.6% in the 3rd quarter. Redwood Investment Management LLC now owns 12,693 shares of the company’s stock valued at $858,000 after purchasing an additional 7,668 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Solventum in the third quarter valued at about $50,948,000. Motley Fool Asset Management LLC purchased a new stake in shares of Solventum during the 3rd quarter valued at about $232,000. IHT Wealth Management LLC purchased a new position in Solventum in the 3rd quarter worth approximately $266,000. Finally, Investment Management Corp of Ontario purchased a new position in Solventum in the 3rd quarter worth approximately $344,000.

Solventum Price Performance

Shares of Solventum stock opened at $69.56 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business has a 50-day moving average price of $70.91 and a 200 day moving average price of $63.22. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler upped their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Solventum has an average rating of “Hold” and a consensus target price 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.