Fmr LLC Reduces Stock Position in Solventum Co. (NYSE:SOLV)

Fmr LLC cut its stake in Solventum Co. (NYSE:SOLV) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,379,917 shares of the company’s stock after selling 175,385 shares during the quarter. Fmr LLC owned 0.80% of Solventum worth $96,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Davis Selected Advisers bought a new stake in shares of Solventum during the 2nd quarter valued at about $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum in the second quarter worth approximately $115,829,000. Newport Trust Company LLC bought a new stake in Solventum during the second quarter valued at approximately $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum during the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC raised its position in 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 acquiring an additional 1,440,410 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SOLV shares. Stifel Nicolaus initiated coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. Finally, Mizuho initiated coverage on shares of Solventum in a report on Wednesday. They issued a “neutral” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.29.

Solventum Stock Performance

NYSE:SOLV opened at $69.56 on Friday. The stock has a 50-day moving average price of $70.65 and a 200 day moving average price of $62.82. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

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.