Commonwealth Equity Services LLC Cuts Stock Holdings in Solventum Co. (NYSE:SOLV)

Commonwealth Equity Services LLC lessened its position in Solventum Co. (NYSE:SOLV) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,626 shares of the company’s stock after selling 10,673 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Solventum were worth $3,278,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC grew its position in shares of Solventum by 373.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after purchasing an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Solventum by 24.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after buying an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 acquiring an additional 32,051 shares during the last quarter. State Street Corp raised its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after acquiring an additional 185,938 shares during the period. Finally, Forsta AP Fonden acquired a new position in shares of Solventum during the 4th quarter valued at about $1,876,000.

Solventum Stock Performance

NYSE SOLV opened at $74.87 on Wednesday. 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 company has a market cap of $12.95 billion and a P/E ratio of 27.23. The stock has a 50-day moving average of $75.38 and a two-hundred day moving average of $71.73. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SOLV. Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Mizuho raised their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Piper Sandler upped their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research report 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.86.

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.