Trian Fund Management L.P. Grows Stake in Solventum Co. (NYSE:SOLV)

Trian Fund Management L.P. raised its stake in Solventum Co. (NYSE:SOLV) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,126,255 shares of the company’s stock after purchasing an additional 1,765,676 shares during the quarter. Solventum makes up about 12.8% of Trian Fund Management L.P.’s portfolio, making the stock its 4th biggest holding. Trian Fund Management L.P. owned 4.13% of Solventum worth $496,842,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Davis Selected Advisers acquired a new position in Solventum during the second quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum during the 2nd quarter worth approximately $115,829,000. Newport Trust Company LLC bought a new stake in Solventum in the 2nd quarter valued at $98,976,000. Baupost Group LLC MA bought a new position in Solventum during the second quarter worth $96,242,000. Finally, Magnetar Financial LLC lifted its stake in shares of Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SOLV shares. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Piper Sandler lifted their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Finally, Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. One equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Up 0.0 %

Shares of NYSE SOLV traded up $0.01 during trading hours on Wednesday, hitting $71.50. 68,725 shares of the stock were exchanged, compared to its average volume of 1,691,680. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company’s fifty day simple moving average is $70.51 and its two-hundred day simple moving average is $62.40.

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.