Solventum Co. (NYSE:SOLV) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Solventum Co. (NYSE:SOLV) by 12.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,510 shares of the company’s stock after selling 3,592 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Solventum were worth $1,709,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after buying an additional 32,051 shares in the last quarter. CWM LLC acquired a new position in shares of Solventum in the second quarter worth about $473,000. Great Valley Advisor Group Inc. purchased a new position in Solventum in the second quarter valued at about $493,000. First Horizon Advisors Inc. acquired a new stake in Solventum during the 2nd quarter valued at approximately $58,000. Finally, Swedbank AB purchased a new stake in Solventum during the 2nd quarter worth approximately $4,711,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. 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 research note on Friday, August 9th. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler increased their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Stock Down 1.0 %

Shares of SOLV stock opened at $69.56 on Friday. The business has a 50 day moving average of $70.65 and a two-hundred day moving average of $62.82. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. 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 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.