Solventum (NYSE:SOLV) Sees Large Volume Increase – What’s Next?

Solventum Co. (NYSE:SOLV) saw an uptick in trading volume on Wednesday . 1,781,491 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 978,943 shares.The stock last traded at $68.66 and had previously closed at $69.41.

Analyst Ratings Changes

Several research firms have recently issued reports on SOLV. Morgan Stanley upped their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus started coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Mizuho began coverage on shares of Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.29.

Solventum Stock Performance

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 simple moving average of $69.59 and a 200 day simple moving average of $64.63.

Hedge Funds Weigh In On Solventum

A number of hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in Solventum by 189.5% in the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Everence Capital Management Inc. bought a new position in Solventum in the fourth quarter worth about $305,000. Modus Advisors LLC purchased a new stake in Solventum in the fourth quarter worth about $25,000. GAMMA Investing LLC grew its holdings in shares of Solventum by 35.3% during the 4th quarter. GAMMA Investing LLC now owns 3,329 shares of the company’s stock worth $220,000 after acquiring an additional 868 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Solventum by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after acquiring an additional 4,896 shares in the last quarter.

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.