Point72 Asia Singapore Pte. Ltd. Makes New Investment in Solventum Co. (NYSE:SOLV)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,466 shares of the company’s stock, valued at approximately $730,000.

A number of other institutional investors have also modified their holdings of SOLV. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the second quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new position in Solventum during the 2nd quarter valued at approximately $25,000. Richard W. Paul & Associates LLC acquired a new position in Solventum during the 2nd quarter valued at approximately $26,000. Family Firm Inc. acquired a new position in Solventum during the 2nd quarter valued at approximately $26,000. Finally, Copeland Capital Management LLC acquired a new position in Solventum during the 3rd quarter valued at approximately $26,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on SOLV. Piper Sandler boosted their price objective 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 started coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Morgan Stanley boosted 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. The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.00.

Solventum Trading Down 1.3 %

SOLV opened at $71.51 on Monday. The stock has a 50-day moving average of $70.55 and a 200-day moving average of $62.58. Solventum Co. has a 52-week low of $47.16 and a 52-week 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.

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.