HighPoint Advisor Group LLC Reduces Holdings in Solventum Co. (NYSE:SOLV)

HighPoint Advisor Group LLC reduced its position in Solventum Co. (NYSE:SOLV) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,489 shares of the company’s stock after selling 266 shares during the period. HighPoint Advisor Group LLC’s holdings in Solventum were worth $495,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Solventum in the fourth quarter worth about $203,740,000. Boston Partners acquired a new position in shares of Solventum in the 4th quarter valued at approximately $110,378,000. Point72 Asset Management L.P. purchased a new position in shares of Solventum during the 3rd quarter valued at approximately $50,948,000. Nordea Investment Management AB increased its stake in shares of Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after buying an additional 431,986 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Solventum by 41.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company’s stock worth $78,833,000 after buying an additional 347,669 shares during the last quarter.

Solventum Price Performance

Shares of SOLV opened at $76.54 on Thursday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $13.24 billion and a P/E ratio of 27.83. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The stock has a fifty day moving average price of $75.66 and a 200 day moving average price of $72.00.

Analyst Ratings Changes

SOLV has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Mizuho upped their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler boosted their price target on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group raised their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.