Solventum (NYSE:SOLV) Sees Large Volume Increase – What’s Next?

Shares of Solventum Co. (NYSE:SOLV) saw strong trading volume on Tuesday . 564,365 shares were traded during trading, a decline of 37% from the previous session’s volume of 892,485 shares.The stock last traded at $83.22 and had previously closed at $76.28.

Analyst Ratings Changes

SOLV has been the subject of a number of analyst reports. Piper Sandler raised their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Price Performance

The stock’s 50-day simple moving average is $71.28 and its two-hundred day simple moving average is $69.37. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Hedge Funds Weigh In On Solventum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOLV. Worldquant Millennium Advisors LLC lifted its holdings in shares of Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Solventum by 24.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after buying an additional 32,051 shares during the period. State Street Corp lifted its stake in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Solventum in the 4th quarter valued at about $1,876,000.

About Solventum

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.