Wedbush Securities Inc. Decreases Stake in Solventum Co. (NYSE:SOLV)

Wedbush Securities Inc. trimmed its holdings in Solventum Co. (NYSE:SOLV) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,040 shares of the company’s stock after selling 230 shares during the period. Wedbush Securities Inc.’s holdings in Solventum were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new position in Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new stake in Solventum in the fourth quarter valued at approximately $26,000. Crews Bank & Trust acquired a new stake in Solventum in the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new stake in Solventum in the fourth quarter valued at approximately $35,000. Finally, Spire Wealth Management acquired a new stake in shares of Solventum during the fourth quarter worth approximately $37,000.

Solventum Trading Up 8.9 %

Shares of SOLV opened at $68.61 on Thursday. The business’s 50-day moving average price is $74.52 and its 200 day moving average price is $71.75. The stock has a market capitalization of $11.87 billion and a P/E ratio of 24.95. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Bank of America raised their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley raised their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Mizuho raised their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.86.

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.