Factorial Partners LLC bought a new stake in Solventum Co. (NYSE:SOLV – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 67,000 shares of the company’s stock, valued at approximately $3,543,000. Solventum accounts for about 2.2% of Factorial Partners LLC’s holdings, making the stock its 16th largest holding.
Other hedge funds have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators bought a new position in Solventum in the 2nd quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new position in shares of Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum during the second quarter worth $26,000. Family Firm Inc. acquired a new position in shares of Solventum during the second quarter worth $26,000. Finally, M&R Capital Management Inc. bought a new stake in shares of Solventum in the second quarter worth $27,000.
Solventum Stock Up 2.0 %
NYSE SOLV opened at $68.35 on Wednesday. The business’s 50 day simple moving average is $57.59. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.
Analysts Set New Price Targets
Several research analysts recently issued reports on SOLV shares. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Wells Fargo & Company cut their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.25.
View Our Latest Analysis on Solventum
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.
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