Weiss Asset Management LP Invests $2.29 Million in Solventum Co. (NYSE:SOLV)

Weiss Asset Management LP acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,879 shares of the company’s stock, valued at approximately $2,292,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Solventum by 4.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock worth $346,000 after acquiring an additional 200 shares in the last quarter. National Bank of Canada FI lifted its stake in Solventum by 4.0% in the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock worth $314,000 after purchasing an additional 236 shares during the last quarter. IVC Wealth Advisors LLC boosted its position in Solventum by 5.0% during the third quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock valued at $464,000 after buying an additional 318 shares during the period. KKM Financial LLC grew its stake in shares of Solventum by 7.9% during the third quarter. KKM Financial LLC now owns 4,367 shares of the company’s stock valued at $304,000 after buying an additional 319 shares during the last quarter. Finally, Copeland Capital Management LLC purchased a new position in shares of Solventum in the third quarter worth about $26,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SOLV. Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. Piper Sandler raised their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Finally, Mizuho began coverage on Solventum in a research note on Wednesday. They issued a “neutral” rating and a $70.00 target price on the stock. 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. Based on data from MarketBeat, Solventum has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Trading Up 0.6 %

SOLV stock opened at $69.96 on Friday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The business’s 50 day moving average price is $70.69 and its two-hundred day moving average price is $62.88. 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 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.