Wolverine Asset Management LLC Purchases New Shares in Solventum Co. (NYSE:SOLV)

Wolverine Asset Management LLC purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 171,000 shares of the company’s stock, valued at approximately $11,296,000. Wolverine Asset Management LLC owned approximately 0.10% of Solventum as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new position in Solventum during the third quarter valued at $60,000. Foundations Investment Advisors LLC bought a new position in Solventum during the third quarter valued at $345,000. Sequoia Financial Advisors LLC increased its position in Solventum by 8.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,737 shares of the company’s stock valued at $400,000 after acquiring an additional 441 shares during the last quarter. Eastern Bank bought a new position in Solventum during the third quarter valued at $105,000. Finally, Waldron Private Wealth LLC bought a new position in Solventum during the third quarter valued at $72,000.

Solventum Stock Up 0.6 %

NYSE SOLV opened at $74.44 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company’s 50-day moving average price is $71.07 and its 200-day moving average price is $68.95.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho assumed coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective on the stock. Piper Sandler upped their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Morgan Stanley upped their price target 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.