Adage Capital Partners GP L.L.C. Decreases Position in Solventum Co. (NYSE:SOLV)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Solventum Co. (NYSE:SOLV) by 22.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 107,622 shares of the company’s stock after selling 31,100 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Solventum were worth $7,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in shares of Solventum in the 4th quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new stake in Solventum during the 4th quarter worth $26,000. Crews Bank & Trust acquired a new stake in Solventum during the 4th quarter worth $32,000. Synergy Asset Management LLC acquired a new stake in Solventum during the 4th quarter worth $35,000. Finally, Spire Wealth Management acquired a new stake in Solventum during the 4th quarter worth $37,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $66.07 on Tuesday. 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 52 week low of $47.16 and a 52 week high of $85.92. The firm has a 50-day moving average price of $72.42 and a 200 day moving average price of $71.59. The stock has a market capitalization of $11.43 billion and a price-to-earnings ratio of 24.03.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SOLV. Mizuho increased their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Bank of America increased their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Piper Sandler increased their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Morgan Stanley raised their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.86.

Solventum Company 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.