Kentucky Trust Co Purchases Shares of 825 Solventum Co. (NYSE:SOLV)

Kentucky Trust Co purchased a new stake in Solventum Co. (NYSE:SOLV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 825 shares of the company’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Solventum during the third quarter worth $125,488,000. Trian Fund Management L.P. increased its position in shares of Solventum by 32.9% during 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 during the period. Point72 Asset Management L.P. acquired a new stake in shares of Solventum during the third quarter worth $50,948,000. Nordea Investment Management AB increased its position in shares of Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after buying an additional 431,986 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Solventum by 4,765.0% during the third quarter. Assenagon Asset Management S.A. now owns 319,628 shares of the company’s stock worth $22,284,000 after buying an additional 313,058 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler increased their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They set 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 given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.29.

Solventum Price Performance

Solventum stock opened at $73.62 on Thursday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The firm’s fifty day moving average price is $70.51 and its two-hundred day moving average price is $68.32. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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.