Nicollet Investment Management Inc. purchased a new position in Solventum Co. (NYSE:SOLV – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,581 shares of the company’s stock, valued at approximately $560,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SOLV. Deseret Mutual Benefit Administrators purchased a new position in shares of Solventum during the second quarter valued at about $25,000. Partnership Wealth Management LLC purchased a new position in Solventum during the 2nd quarter valued at approximately $26,000. Richard W. Paul & Associates LLC purchased a new position in Solventum during the 2nd quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in Solventum in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth approximately $27,000.
Solventum Price Performance
Solventum stock opened at $68.35 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The stock has a 50-day moving average price of $57.59.
Wall Street Analyst Weigh In
SOLV has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Argus assumed coverage on shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company lowered their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.25.
Read Our Latest Research Report on Solventum
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.
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