Solventum (NYSE:SOLV) Sees Large Volume Increase – Here’s What Happened

Shares of Solventum Co. (NYSE:SOLV) saw unusually-high trading volume on Wednesday . Approximately 1,781,491 shares were traded during trading, an increase of 82% from the previous session’s volume of 978,943 shares.The stock last traded at $68.66 and had previously closed at $69.41.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOLV. Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler upped their price target 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. Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Mizuho initiated coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.29.

Solventum Price Performance

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 company has a fifty day moving average of $69.59 and a 200 day moving average of $64.63.

Institutional Trading of Solventum

Several large investors have recently added to or reduced their stakes in SOLV. Copeland Capital Management LLC bought a new stake in Solventum during the 3rd quarter worth approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Solventum during the fourth quarter worth about $25,000. Mather Group LLC. bought a new stake in Solventum during the 3rd quarter valued at approximately $27,000. Hollencrest Capital Management bought a new stake in Solventum during the 2nd quarter valued at approximately $25,000. Finally, True Wealth Design LLC lifted its holdings in Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after purchasing an additional 471 shares in the last quarter.

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.