Assenagon Asset Management S.A. Has $4.47 Million Stock Holdings in Solventum Co. (NYSE:SOLV)

Assenagon Asset Management S.A. lowered its position in shares of Solventum Co. (NYSE:SOLV) by 78.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,592 shares of the company’s stock after selling 252,036 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Solventum were worth $4,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Modus Advisors LLC acquired a new stake in shares of Solventum during the fourth quarter worth $25,000. Copeland Capital Management LLC acquired a new stake in shares of Solventum during the third quarter worth $26,000. Mather Group LLC. bought a new position in shares of Solventum in the third quarter worth $27,000. Twin Lakes Capital Management LLC bought a new position in shares of Solventum in the second quarter worth $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Solventum in the second quarter worth $32,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler raised their price target 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 target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Mizuho assumed coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. One 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.com, Solventum has an average rating of “Hold” and an average target price of $68.29.

Solventum Stock Performance

Solventum stock opened at $73.60 on Tuesday. Solventum Co. has a 12-month low of $47.16 and a 12-month 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. The business’s 50-day moving average price is $69.12 and its two-hundred day moving average price is $65.69.

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.