Biltmore Family Office LLC Invests $236,000 in Solventum Co. (NYSE:SOLV)

Biltmore Family Office LLC acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,385 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of the business. Deseret Mutual Benefit Administrators purchased a new stake in shares of Solventum during the second quarter valued at $25,000. Hollencrest Capital Management bought a new position in Solventum in the 2nd quarter worth about $25,000. Partnership Wealth Management LLC purchased a new position in shares of Solventum during the second quarter worth approximately $26,000. Richard W. Paul & Associates LLC purchased a new position in shares of Solventum during the second quarter worth approximately $26,000. Finally, Family Firm Inc. bought a new stake in shares of Solventum during the second quarter valued at approximately $26,000.

Solventum Stock Performance

Shares of Solventum stock 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. The firm’s 50 day moving average price is $70.51 and its 200-day moving average price is $62.31. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Analysts Set New Price Targets

SOLV has been the topic of several research reports. Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler raised their target price 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. Finally, BTIG Research assumed coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.00.

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.