Solventum Co. (NYSE:SOLV) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its position in Solventum Co. (NYSE:SOLV - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,054 shares of the company's stock after selling 5,411 shares during the period. Alliancebernstein L.P. owned approximately 0.09% of Solventum worth $10,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOLV. Vanguard Group Inc. grew its position in Solventum by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock worth $1,074,591,000 after purchasing an additional 75,631 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Solventum by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company's stock valued at $232,608,000 after acquiring an additional 128,317 shares during the period. Norges Bank purchased a new position in Solventum in the 4th quarter worth $203,740,000. Boston Partners acquired a new stake in Solventum during the 4th quarter worth about $110,378,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Solventum by 41.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock valued at $78,833,000 after purchasing an additional 347,669 shares during the last quarter.

Solventum Trading Up 0.0 %

NYSE:SOLV traded up $0.03 during trading hours on Wednesday, hitting $65.96. The company had a trading volume of 86,488 shares, compared to its average volume of 1,328,481. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92. 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 company has a 50-day moving average of $73.88 and a 200 day moving average of $71.69. The company has a market cap of $11.41 billion and a P/E ratio of 23.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SOLV shares. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Mizuho increased their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lifted their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.86.

Solventum 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.