Davis Selected Advisers Decreases Stock Position in Solventum Co. (NYSE:SOLV)

Davis Selected Advisers lessened its position in Solventum Co. (NYSE:SOLV - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,246,614 shares of the company's stock after selling 24,899 shares during the quarter. Solventum accounts for approximately 2.0% of Davis Selected Advisers' portfolio, making the stock its 18th largest holding. Davis Selected Advisers owned about 3.04% of Solventum worth $346,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Modus Advisors LLC purchased a new position in shares of Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum during the fourth quarter valued at approximately $26,000. Crews Bank & Trust bought a new stake in Solventum in the 4th quarter worth approximately $32,000. True Wealth Design LLC grew its position in Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company's stock worth $33,000 after purchasing an additional 471 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Solventum in the 3rd quarter worth approximately $35,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SOLV shares. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. 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 research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Morgan Stanley lifted their price target 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 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 stock. According to MarketBeat.com, Solventum has an average rating of "Hold" and a consensus price target of $79.86.

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Solventum Price Performance

Shares of SOLV traded down $1.94 during trading hours on Wednesday, reaching $73.95. 1,042,167 shares of the stock traded hands, compared to its average volume of 1,438,568. 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 52-week low of $47.16 and a 52-week high of $85.92. The company's 50-day moving average price is $74.08 and its two-hundred day moving average price is $70.94. The company has a market cap of $12.79 billion and a P/E ratio of 26.89.

About Solventum

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.