Solventum Co. (NYSE:SOLV) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 23.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 45,838 shares of the company’s stock after selling 14,112 shares during the period. Advisors Asset Management Inc.’s holdings in Solventum were worth $3,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its stake in Solventum by 37.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,721 shares of the company’s stock valued at $863,000 after purchasing an additional 3,498 shares during the period. Kennondale Capital Management LLC acquired a new stake in Solventum during the 4th quarter valued at $254,000. Cibc World Markets Corp raised its stake in Solventum by 15.4% during the 4th quarter. Cibc World Markets Corp now owns 22,179 shares of the company’s stock valued at $1,465,000 after purchasing an additional 2,960 shares during the period. Choate Investment Advisors raised its stake in Solventum by 19.1% during the 4th quarter. Choate Investment Advisors now owns 3,707 shares of the company’s stock valued at $245,000 after purchasing an additional 594 shares during the period. Finally, Natixis Advisors LLC raised its stake in Solventum by 14.3% during the 4th quarter. Natixis Advisors LLC now owns 54,406 shares of the company’s stock valued at $3,594,000 after purchasing an additional 6,790 shares during the period.

Solventum Trading Down 1.3 %

Shares of NYSE:SOLV opened at $74.00 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. The firm has a fifty day moving average price of $75.17 and a 200 day moving average price of $71.51. The stock has a market capitalization of $12.80 billion and a PE ratio of 26.91.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Mizuho upped their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Wells Fargo & Company upped their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Bank of America upped their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Solventum presently has an average rating of “Hold” and a consensus price target of $79.86.

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.