LMR Partners LLP Grows Position in Solventum Co. (NYSE:SOLV)

LMR Partners LLP raised its holdings in shares of Solventum Co. (NYSE:SOLV) by 552.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 178,828 shares of the company’s stock after acquiring an additional 151,424 shares during the quarter. LMR Partners LLP’s holdings in Solventum were worth $12,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new position in shares of Solventum in the second quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in Solventum during the second quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new position in Solventum during the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC bought a new position in Solventum during the second quarter valued at approximately $26,000. Finally, Family Firm Inc. bought a new position in Solventum during the second quarter valued at approximately $26,000.

Analysts Set New Price Targets

SOLV has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. The Goldman Sachs Group increased their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Wells Fargo & Company dropped 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. Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target of $68.00.

Solventum Price Performance

Shares of NYSE:SOLV opened at $67.48 on Monday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The business has a fifty day moving average price of $70.54 and a 200-day moving average price of $62.18.

Solventum 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.