Janney Montgomery Scott LLC Grows Position in Solventum Co. (NYSE:SOLV)

Janney Montgomery Scott LLC raised its stake in Solventum Co. (NYSE:SOLV) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,931 shares of the company’s stock after purchasing an additional 3,848 shares during the period. Janney Montgomery Scott LLC’s holdings in Solventum were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SOLV. Davis Selected Advisers acquired a new stake in Solventum during the second quarter worth about $273,070,000. Nuance Investments LLC acquired a new stake in Solventum in the 2nd quarter valued at approximately $115,829,000. Newport Trust Company LLC acquired a new position in shares of Solventum in the 2nd quarter worth $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum in the second quarter worth $96,242,000. Finally, Magnetar Financial LLC boosted its position in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the period.

Wall Street Analysts Forecast Growth

SOLV has been the topic of a number of recent research reports. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company lowered their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.00.

Solventum Trading Down 1.2 %

Shares of SOLV opened at $71.53 on Tuesday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company’s fifty day simple moving average is $70.08 and its 200-day simple moving average is $62.00. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

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.