Cerity Partners LLC Sells 6,547 Shares of Solventum Co. (NYSE:SOLV)

Cerity Partners LLC lessened its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,172 shares of the company's stock after selling 6,547 shares during the quarter. Cerity Partners LLC's holdings in Solventum were worth $3,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Solventum in the 4th quarter worth approximately $203,740,000. Boston Partners bought a new position in Solventum in the fourth quarter worth approximately $110,378,000. Nordea Investment Management AB boosted its stake in shares of Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock worth $43,902,000 after acquiring an additional 431,986 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of 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 acquiring an additional 347,669 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Solventum in the 4th quarter worth $18,583,000.

Solventum Price Performance

Shares of SOLV stock traded up $0.56 during trading hours on Friday, hitting $66.23. The stock had a trading volume of 910,263 shares, compared to its average volume of 1,322,930. The stock's 50-day moving average price is $73.41 and its two-hundred day moving average price is $71.61. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The stock has a market capitalization of $11.46 billion and a price-to-earnings ratio of 24.08. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Analyst Ratings Changes

SOLV has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Piper Sandler raised their price objective 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. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Bank of America upped 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.