Advisors Asset Management Inc. Sells 16,440 Shares of Solventum Co. (NYSE:SOLV)

Advisors Asset Management Inc. decreased its position in Solventum Co. (NYSE:SOLV - Free Report) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Solventum by 4.2% in 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. National Bank of Canada FI grew its holdings in shares of Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company's stock worth $314,000 after purchasing an additional 236 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in Solventum by 5.0% during the third quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company's stock worth $464,000 after purchasing an additional 318 shares during the period. Copeland Capital Management LLC acquired a new stake in Solventum during the third quarter worth about $26,000. Finally, Mather Group LLC. bought a new position in Solventum in the 3rd quarter valued at about $27,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SOLV shares. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research report on Monday, August 12th. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They set a "neutral" rating for the company. Wells Fargo & Company reduced their price target on Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Finally, Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a "peer perform" rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Solventum presently has a consensus rating of "Hold" and an average price target of $68.00.

Solventum Stock Performance

NYSE:SOLV traded up $1.18 during trading hours on Friday, reaching $70.81. The stock had a trading volume of 700,145 shares, compared to its average volume of 1,002,294. 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 Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The stock has a 50 day simple moving average of $70.53 and a 200 day simple moving average of $62.35.

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.