Solventum (NYSE:SOLV) Sees Large Volume Increase – Time to Buy?

Solventum Co. (NYSE:SOLV) shares saw strong trading volume on Tuesday . 564,365 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 892,485 shares.The stock last traded at $83.22 and had previously closed at $76.28.

Analyst Ratings Changes

SOLV has been the subject of several recent analyst reports. Mizuho started coverage on Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler raised their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.29.

Solventum Trading Up 9.6 %

The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a 50 day moving average of $71.28 and a 200 day moving average of $69.37.

Institutional Trading of Solventum

Several hedge funds have recently added to or reduced their stakes in SOLV. GF Fund Management CO. LTD. purchased a new stake in Solventum during the 4th quarter valued at $229,000. JT Stratford LLC lifted its holdings in Solventum by 17.5% in the 4th quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock worth $1,763,000 after buying an additional 3,967 shares during the period. Ananym Capital Management LP bought a new stake in shares of Solventum in the 4th quarter worth approximately $17,620,000. Poehling Capital Management INC. increased its stake in shares of Solventum by 271.2% during the fourth quarter. Poehling Capital Management INC. now owns 30,551 shares of the company’s stock valued at $2,018,000 after buying an additional 22,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Solventum by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,106,194 shares of the company’s stock worth $73,075,000 after acquiring an additional 52,423 shares during the period.

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.