5,524 Shares in Solventum Co. (NYSE:SOLV) Purchased by Cincinnati Financial Corp

Cincinnati Financial Corp acquired a new stake in shares of Solventum Co. (NYSE:SOLV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,524 shares of the company’s stock, valued at approximately $385,000.

Several other large investors also recently modified their holdings of the stock. Davis Selected Advisers acquired a new stake in shares of Solventum during the 2nd quarter worth about $273,070,000. Nuance Investments LLC bought a new stake in Solventum during the second quarter worth about $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum during the second quarter worth approximately $98,976,000. Baupost Group LLC MA bought a new position in shares of Solventum in the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC boosted its holdings 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 worth $78,813,000 after acquiring an additional 1,440,410 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Finally, 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 research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.

Solventum Price Performance

Solventum stock opened at $67.48 on Monday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company’s 50-day moving average is $70.54 and its two-hundred day moving average is $62.18. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

About Solventum

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.