Solventum (NYSE:SOLV) Sees Unusually-High Trading Volume – Here’s What Happened

Solventum Co. (NYSE:SOLV) shares saw unusually-high trading volume on Wednesday . Approximately 1,781,491 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 978,943 shares.The stock last traded at $68.66 and had previously closed at $69.41.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOLV. Mizuho started coverage on Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company. Piper Sandler upped their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wolfe Research assumed coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective 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 research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.29.

Solventum Price Performance

The firm has a 50 day simple moving average of $69.32 and a 200-day simple moving average of $64.80. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Trian Fund Management L.P. lifted its position in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp lifted its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after acquiring an additional 185,938 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after purchasing an additional 128,317 shares during the last quarter. Nuance Investments LLC bought a new stake in shares of Solventum in the 2nd quarter valued at about $115,829,000. Finally, Newport Trust Company LLC bought a new position in Solventum during the second quarter worth about $98,976,000.

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.