Advisors Asset Management Inc. decreased its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 quarter.
Several other institutional investors also recently bought and sold shares of the stock. Howe & Rusling Inc. purchased a new position in Solventum during the 3rd quarter valued at approximately $234,000. Factorial Partners LLC grew its holdings in shares of Solventum by 11.6% in the third quarter. Factorial Partners LLC now owns 74,800 shares of the company's stock valued at $5,215,000 after purchasing an additional 7,800 shares in the last quarter. Commerce Bank increased its position in Solventum by 25.3% in the third quarter. Commerce Bank now owns 17,263 shares of the company's stock worth $1,204,000 after purchasing an additional 3,486 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Solventum during the third quarter valued at $35,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Solventum during the third quarter valued at $231,000.
Several analysts have recently issued reports on SOLV shares. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 target price on the stock. The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a research note on Monday, August 12th. Piper Sandler boosted their target price on Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They set a "neutral" rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $68.00.
Read Our Latest Report on SOLV
NYSE:SOLV opened at $70.81 on Friday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock has a fifty day simple moving average of $70.53 and a 200-day simple moving average of $62.35.
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.
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