Thrivent Financial for Lutherans Sells 690 Shares of Solventum Co. (NYSE:SOLV)

Thrivent Financial for Lutherans trimmed its holdings in shares of Solventum Co. (NYSE:SOLV) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,223 shares of the company’s stock after selling 690 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Solventum were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SOLV. Accredited Investors Inc. increased its stake in shares of Solventum by 14.1% during the third quarter. Accredited Investors Inc. now owns 8,723 shares of the company’s stock valued at $608,000 after buying an additional 1,079 shares during the period. Natixis Advisors LLC increased its stake in shares of Solventum by 271.4% during the third quarter. Natixis Advisors LLC now owns 47,616 shares of the company’s stock valued at $3,320,000 after buying an additional 34,797 shares during the period. CIBC Asset Management Inc increased its stake in shares of Solventum by 7.9% during the third quarter. CIBC Asset Management Inc now owns 19,291 shares of the company’s stock valued at $1,345,000 after buying an additional 1,408 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Solventum by 4.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock valued at $346,000 after buying an additional 200 shares during the period. Finally, Curi RMB Capital LLC purchased a new position in shares of Solventum during the third quarter valued at $246,000.

Solventum Stock Performance

Shares of NYSE SOLV opened at $70.26 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 business has a 50-day simple moving average of $70.62 and a two-hundred day simple moving average of $62.77. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on Solventum in a research note on Wednesday. They issued a “neutral” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.29.

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.