XTX Topco Ltd Invests $416,000 in Solventum Co. (NYSE:SOLV)

XTX Topco Ltd bought a new stake in shares of Solventum Co. (NYSE:SOLV) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,971 shares of the company’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Worldquant Millennium Advisors LLC raised its holdings in 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 purchasing an additional 37,600 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after buying an additional 32,051 shares during the period. State Street Corp raised its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Solventum in the third quarter worth about $50,948,000. Finally, First Horizon Advisors Inc. bought a new stake in Solventum during the 2nd quarter valued at approximately $58,000.

Solventum Stock Performance

Shares of NYSE SOLV opened at $69.56 on Monday. The firm’s 50 day moving average price is $70.91 and its 200-day moving average price is $63.24. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOLV. Piper Sandler increased their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Mizuho started 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum 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.