HBK Investments L P Takes $12.82 Million Position in Solventum Co. (NYSE:SOLV)

HBK Investments L P bought a new position in Solventum Co. (NYSE:SOLV) during the 3rd quarter, Holdings Channel reports. The firm bought 183,917 shares of the company’s stock, valued at approximately $12,823,000.

Several other institutional investors and hedge funds have also modified their holdings of SOLV. Davis Selected Advisers acquired a new position in shares of Solventum in the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the 2nd quarter worth $115,829,000. Newport Trust Company LLC acquired a new position in Solventum during the 2nd quarter worth $98,976,000. Baupost Group LLC MA acquired a new position in Solventum during the 2nd quarter worth $96,242,000. Finally, Trian Fund Management L.P. lifted its holdings in Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after buying an additional 1,765,676 shares in the last quarter.

Solventum Stock Performance

Shares of Solventum stock opened at $72.48 on Friday. 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 52 week low of $47.16 and a 52 week high of $96.05. The firm has a fifty day moving average of $70.52 and a two-hundred day moving average of $62.54.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Morgan Stanley upped their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on 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, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

Solventum Company 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.