Steward Partners Investment Advisory LLC Sells 1,780 Shares of Solventum Co. (NYSE:SOLV)

Steward Partners Investment Advisory LLC reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 34.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,426 shares of the company’s stock after selling 1,780 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Solventum were worth $226,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SOLV. Modus Advisors LLC bought a new position in Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in shares of Solventum in the 4th quarter worth about $26,000. Crews Bank & Trust bought a new position in shares of Solventum in the 4th quarter worth about $32,000. True Wealth Design LLC raised its position in shares of Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after acquiring an additional 471 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Solventum in the 3rd quarter worth about $35,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their price objective on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.86.

Solventum Stock Performance

Shares of SOLV opened at $74.31 on Friday. 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 stock has a 50-day moving average of $74.52 and a 200-day moving average of $71.07. The company has a market cap of $12.85 billion and a PE ratio of 27.02. Solventum Co. has a one year low of $47.16 and a one year high of $85.92.

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.