Private Advisor Group LLC Grows Position in Solventum Co. (NYSE:SOLV)

Private Advisor Group LLC increased its holdings in Solventum Co. (NYSE:SOLV) by 73.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,684 shares of the company’s stock after buying an additional 14,740 shares during the period. Private Advisor Group LLC’s holdings in Solventum were worth $2,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SOLV. Hotchkis & Wiley Capital Management LLC purchased a new position in Solventum during the 3rd quarter valued at about $125,488,000. Trian Fund Management L.P. boosted its position in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after acquiring an additional 1,765,676 shares during the period. Point72 Asset Management L.P. purchased a new position in Solventum during the third quarter valued at approximately $50,948,000. Nordea Investment Management AB increased its holdings in Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after acquiring an additional 431,986 shares during the period. Finally, General American Investors Co. Inc. purchased a new stake in Solventum in the 3rd quarter worth approximately $14,456,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SOLV. Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley boosted their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Mizuho began coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.29.

Solventum Price Performance

SOLV opened at $83.74 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock has a 50-day moving average price of $71.58 and a 200-day moving average price of $69.53. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

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.