Pinnacle Financial Partners Inc Takes Position in Solventum Co. (NYSE:SOLV)

Pinnacle Financial Partners Inc bought a new stake in Solventum Co. (NYSE:SOLV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 602 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Selected Advisers bought a new position in Solventum during the 2nd quarter valued at approximately $273,070,000. Nuance Investments LLC bought a new position in Solventum during the 2nd quarter valued at approximately $115,829,000. Newport Trust Company LLC bought a new position in Solventum during the 2nd quarter valued at approximately $98,976,000. Baupost Group LLC MA bought a new position in Solventum during the 2nd quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC increased its position in Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company reduced their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Finally, Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Down 0.6 %

SOLV stock opened at $67.48 on Friday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock’s fifty day moving average price is $70.51 and its 200-day moving average price is $62.21.

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.