Brown Brothers Harriman & Co. Reduces Holdings in Solventum Co. (NYSE:SOLV)

Brown Brothers Harriman & Co. lowered its stake in shares of Solventum Co. (NYSE:SOLV) by 3.5% in the third quarter, HoldingsChannel.com reports. The firm owned 5,293 shares of the company’s stock after selling 192 shares during the period. Brown Brothers Harriman & Co.’s holdings in Solventum were worth $369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD purchased a new position in Solventum in the 1st quarter valued at approximately $5,889,000. CWM LLC purchased a new position in Solventum in the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. purchased a new position in Solventum in the 2nd quarter valued at approximately $493,000. First Horizon Advisors Inc. acquired a new stake in shares of Solventum in the 2nd quarter valued at $58,000. Finally, Swedbank AB acquired a new stake in shares of Solventum in the 2nd quarter valued at $4,711,000.

Solventum Price Performance

NYSE SOLV opened at $72.48 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The firm’s fifty day moving average is $70.51 and its two-hundred day moving average is $62.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SOLV shares. Stifel Nicolaus started coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Wells Fargo & Company reduced their price objective 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. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. 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 report on Monday, November 11th. Finally, Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. One investment 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, Solventum presently has an average rating of “Hold” and an average target price of $68.00.

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.