Biltmore Family Office LLC Buys New Shares in Solventum Co. (NYSE:SOLV)

Biltmore Family Office LLC purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the third quarter, HoldingsChannel reports. The fund purchased 3,385 shares of the company’s stock, valued at approximately $236,000.

Other large investors have also added to or reduced their stakes in the company. Davis Selected Advisers purchased a new stake in Solventum in the second quarter valued at approximately $273,070,000. Nuance Investments LLC purchased a new stake in shares of Solventum in the 2nd quarter valued at $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum in the second quarter worth $98,976,000. Baupost Group LLC MA purchased a new position in shares of Solventum during the second quarter worth $96,242,000. Finally, Magnetar Financial LLC lifted its position in Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the period.

Solventum Stock Up 1.8 %

Shares of NYSE:SOLV opened at $69.63 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The business’s 50 day moving average price is $70.51 and its 200-day moving average price is $62.31.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Finally, BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. One equities research 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 MarketBeat, the company presently has a consensus 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.