Corient Private Wealth LLC Trims Stake in Solventum Co. (NYSE:SOLV)

Corient Private Wealth LLC cut its stake in Solventum Co. (NYSE:SOLV - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,269 shares of the company's stock after selling 5,352 shares during the period. Corient Private Wealth LLC's holdings in Solventum were worth $3,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trian Fund Management L.P. lifted its position in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the period. State Street Corp grew its position in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock worth $425,818,000 after buying an additional 185,938 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 128,317 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Solventum in the 3rd quarter valued at $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Solventum by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company's stock valued at $73,469,000 after acquiring an additional 3,745 shares during the period.

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Solventum Price Performance

Shares of Solventum stock traded down $0.68 on Wednesday, hitting $74.25. 1,900,369 shares of the company traded hands, compared to its average volume of 1,428,247. 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 52 week low of $47.16 and a 52 week high of $85.92. The business has a 50-day simple moving average of $75.38 and a 200 day simple moving average of $71.73. The stock has a market capitalization of $12.84 billion and a P/E ratio of 27.00.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SOLV. The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Bank of America raised their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. 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, Piper Sandler increased their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. One investment 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. According to MarketBeat.com, the stock currently has a consensus 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.