Sanctuary Advisors LLC bought a new position in Solventum Co. (NYSE:SOLV – Free Report) in the second quarter, Holdings Channel.com reports. The firm bought 9,751 shares of the company’s stock, valued at approximately $516,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Solventum in the first quarter worth about $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum during the 1st quarter worth approximately $5,747,000. CWM LLC acquired a new stake in Solventum during the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum in the 2nd quarter valued at $493,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Solventum in the second quarter worth $58,000.
Solventum Price Performance
Shares of SOLV stock opened at $69.76 on Wednesday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The stock has a 50 day simple moving average of $65.28 and a 200-day simple moving average of $60.86.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SOLV shares. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company decreased 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. Finally, Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.33.
Get Our Latest Analysis on SOLV
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.
Further Reading
- Five stocks we like better than Solventum
- How to Most Effectively Use the MarketBeat Earnings Screener
- Goldman Sachs Earnings Reveal Market Moves Investors Can’t Ignore
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- AMD Gains Momentum With AI: Can It Beat Expectations?
- Using the MarketBeat Stock Split Calculator
- Lithium Grab: 2 Lithium Stocks That Could Be Takeover Targets
Want to see what other hedge funds are holding SOLV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solventum Co. (NYSE:SOLV – Free Report).
Receive News & Ratings for Solventum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solventum and related companies with MarketBeat.com's FREE daily email newsletter.