Cincinnati Financial Corp Buys Shares of 5,524 Solventum Co. (NYSE:SOLV)

Cincinnati Financial Corp bought a new position in shares of Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,524 shares of the company’s stock, valued at approximately $385,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Davis Selected Advisers bought a new position in Solventum during the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new stake in Solventum in the second quarter worth $115,829,000. Newport Trust Company LLC bought a new position in shares of Solventum during the second quarter worth $98,976,000. Baupost Group LLC MA acquired a new position in shares of Solventum in the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC increased its position in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Solventum Trading Down 0.6 %

NYSE SOLV opened at $67.48 on Monday. Solventum Co. has a 52 week low of $47.16 and a 52 week 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. The stock’s 50 day moving average price is $70.54 and its two-hundred day moving average price is $62.18.

Analyst Upgrades and Downgrades

SOLV has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Morgan Stanley lifted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus started coverage on Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Piper Sandler raised their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Solventum currently has an average rating of “Hold” and a consensus price target 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.