Advisors Asset Management Inc. Trims Stake in Solventum Co. (NYSE:SOLV)

Advisors Asset Management Inc. trimmed its position in Solventum Co. (NYSE:SOLV) by 21.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,950 shares of the company’s stock after selling 16,440 shares during the quarter. Advisors Asset Management Inc.’s holdings in Solventum were worth $4,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copeland Capital Management LLC bought a new position in Solventum in the third quarter worth approximately $26,000. Mather Group LLC. bought a new position in shares of Solventum in the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Solventum during the 1st quarter worth $30,000. Hollencrest Capital Management bought a new stake in Solventum during the second quarter valued at about $25,000. Finally, Deseret Mutual Benefit Administrators purchased a new position in Solventum in the second quarter valued at about $25,000.

Wall Street Analyst Weigh In

SOLV has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler increased their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Performance

Shares of SOLV stock opened at $70.81 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The business has a fifty day moving average of $70.53 and a 200 day moving average of $62.35. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05.

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.