Bridgewater Associates LP Cuts Stake in Solventum Co. (NYSE:SOLV)

Bridgewater Associates LP lowered its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,282 shares of the company's stock after selling 9,593 shares during the quarter. Bridgewater Associates LP's holdings in Solventum were worth $613,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SOLV. MML Investors Services LLC boosted its position in Solventum by 3.2% during the third quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock valued at $373,000 after purchasing an additional 168 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Solventum in the 3rd quarter valued at about $568,000. Sanctuary Advisors LLC grew its position in shares of Solventum by 95.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,074 shares of the company's stock worth $1,351,000 after buying an additional 9,323 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Solventum by 196.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,062 shares of the company's stock worth $1,190,000 after buying an additional 11,312 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Solventum by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 169,615 shares of the company's stock worth $11,826,000 after acquiring an additional 4,896 shares in the last quarter.

Solventum Stock Performance

Shares of Solventum stock traded up $1.01 during trading on Wednesday, reaching $65.95. The company's stock had a trading volume of 639,849 shares, compared to its average volume of 1,314,419. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company has a 50-day moving average price of $73.04 and a two-hundred day moving average price of $71.60. The firm has a market cap of $11.41 billion and a PE ratio of 23.98.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America lifted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Mizuho lifted their price target on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. 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. Finally, Piper Sandler lifted their price objective on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Solventum currently has a consensus rating of "Hold" and an average 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.