Cerity Partners LLC Buys 11,337 Shares of Solventum Co. (NYSE:SOLV)

Cerity Partners LLC increased its stake in shares of Solventum Co. (NYSE:SOLV) by 27.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,719 shares of the company’s stock after acquiring an additional 11,337 shares during the quarter. Cerity Partners LLC’s holdings in Solventum were worth $3,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SOLV. Deseret Mutual Benefit Administrators bought a new position in shares of Solventum during the 2nd quarter valued at about $25,000. Hollencrest Capital Management purchased a new position in Solventum during the 2nd quarter valued at approximately $25,000. Partnership Wealth Management LLC purchased a new position in Solventum during the 2nd quarter valued at approximately $26,000. Richard W. Paul & Associates LLC bought a new stake in Solventum in the 2nd quarter worth approximately $26,000. Finally, Family Firm Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth approximately $26,000.

Solventum Stock Performance

Shares of NYSE:SOLV opened at $71.51 on Friday. The business has a 50 day simple moving average of $70.55 and a two-hundred day simple moving average of $62.60. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analyst Upgrades and Downgrades

SOLV has been the topic of several research reports. Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Morgan Stanley boosted their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

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.