Pinnacle Financial Partners Inc Buys New Shares in Solventum Co. (NYSE:SOLV)

Pinnacle Financial Partners Inc bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 602 shares of the company’s stock, valued at approximately $42,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SOLV. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum during the first quarter valued at $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Solventum in the first quarter valued at about $209,000. LRI Investments LLC purchased a new position in shares of Solventum in the first quarter valued at about $43,000. Magnetar Financial LLC purchased a new position in shares of Solventum in the first quarter valued at about $3,478,000. Finally, Alpine Global Management LLC purchased a new position in shares of Solventum in the first quarter valued at about $1,766,000.

Solventum Stock Down 0.6 %

Shares of NYSE SOLV opened at $67.48 on Friday. The business’s 50 day moving average is $70.51 and its two-hundred day moving average is $62.21. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Wells Fargo & Company lowered their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.00.

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.