Baupost Group LLC MA acquired a new position in Solventum Co. (NYSE:SOLV – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,820,000 shares of the company’s stock, valued at approximately $96,242,000. Solventum accounts for approximately 2.6% of Baupost Group LLC MA’s holdings, making the stock its 13th biggest holding. Baupost Group LLC MA owned about 1.05% of Solventum as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Davis Selected Advisers bought a new stake in Solventum during the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum during the 2nd quarter valued at $115,829,000. Newport Trust Company LLC purchased a new position in shares of Solventum during the 2nd quarter valued at $98,976,000. Bank of New York Mellon Corp bought a new position in Solventum in the 2nd quarter worth $48,487,000. Finally, Hsbc Holdings PLC purchased a new stake in Solventum in the 2nd quarter worth $31,876,000.
Solventum Trading Down 3.3 %
NYSE SOLV opened at $69.95 on Friday. The firm’s 50 day moving average price is $61.01. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90.
Wall Street Analysts Forecast Growth
SOLV has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Argus assumed coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Bank of America dropped their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.25.
Get Our Latest Research Report on SOLV
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.
Recommended Stories
- Five stocks we like better than Solventum
- What Are Dividends? Buy the Best Dividend Stocks
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- What Are the U.K. Market Holidays? How to Invest and Trade
- MarketBeat Week in Review – 9/16 – 9/20
- How to Invest in Blue Chip Stocks
- Don’t Miss These 3 Retail Stocks for Fall Gains
Want to see what other hedge funds are holding SOLV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solventum Co. (NYSE:SOLV – Free Report).
Receive News & Ratings for Solventum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solventum and related companies with MarketBeat.com's FREE daily email newsletter.