True Wealth Design LLC Increases Stock Position in Solventum Co. (NYSE:SOLV)

True Wealth Design LLC raised its stake in Solventum Co. (NYSE:SOLV) by 23,550.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473 shares of the company’s stock after acquiring an additional 471 shares during the period. True Wealth Design LLC’s holdings in Solventum were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in Solventum during the 1st quarter worth approximately $5,889,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Solventum in the first quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new position in shares of Solventum during the second quarter worth approximately $74,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Solventum in the 2nd quarter valued at $34,000. Finally, DNB Asset Management AS purchased a new stake in Solventum in the 2nd quarter valued at $1,227,000.

Solventum Stock Down 1.3 %

SOLV opened at $71.51 on Monday. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The business’s fifty day moving average is $70.55 and its two-hundred day moving average is $62.58. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for 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 raised their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.