Geode Capital Management LLC Purchases 128,317 Shares of Solventum Co. (NYSE:SOLV)

Geode Capital Management LLC boosted its holdings in Solventum Co. (NYSE:SOLV) by 4.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,347,719 shares of the company’s stock after buying an additional 128,317 shares during the period. Geode Capital Management LLC owned 1.94% of Solventum worth $232,608,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Trian Fund Management L.P. lifted its holdings 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 buying an additional 1,765,676 shares in the last quarter. State Street Corp lifted its stake in Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Davis Selected Advisers bought a new position in shares of Solventum during the 2nd quarter valued at about $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum during the second quarter valued at about $115,829,000. Finally, Newport Trust Company LLC bought a new stake in shares of Solventum in the second quarter worth about $98,976,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SOLV shares. Wolfe Research began coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. Piper Sandler upped their price target 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. Morgan Stanley lifted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Finally, BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Price Performance

Shares of SOLV stock opened at $69.56 on Friday. The stock has a 50 day moving average price of $70.91 and a 200 day moving average price of $63.22. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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.