Boussard & Gavaudan Investment Management LLP Takes $4.31 Million Position in Solventum Co. (NYSE:SOLV)

Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,638 shares of the company’s stock, valued at approximately $4,308,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SOLV. Davis Selected Advisers bought a new position in shares of Solventum during the second quarter valued at about $273,070,000. Nuance Investments LLC bought a new position in Solventum in the second quarter worth about $115,829,000. Newport Trust Company LLC bought a new position in Solventum in the second quarter worth about $98,976,000. Baupost Group LLC MA bought a new position in Solventum in the second quarter worth about $96,242,000. Finally, Trian Fund Management L.P. raised its stake in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after buying an additional 1,765,676 shares in the last quarter.

Solventum Stock Performance

NYSE:SOLV opened at $72.48 on Thursday. The company’s 50 day moving average price is $70.51 and its 200-day moving average price is $62.47. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Analysts Set New Price Targets

A number of research firms recently issued reports on SOLV. BTIG Research began coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research began coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. 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 note on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.00.

Solventum 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.