Fmr LLC Has $96.21 Million Stake in Solventum Co. (NYSE:SOLV)

FMR LLC lowered its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,379,917 shares of the company's stock after selling 175,385 shares during the period. FMR LLC owned approximately 0.80% of Solventum worth $96,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Copeland Capital Management LLC purchased a new stake in Solventum in the 3rd quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in shares of Solventum during the third quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new stake in Solventum during the first quarter valued at $30,000. Hollencrest Capital Management purchased a new position in Solventum in the second quarter valued at about $25,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in Solventum in the 2nd quarter worth about $25,000.

Solventum Stock Up 0.6 %

Shares of NYSE SOLV traded up $0.39 during trading hours on Friday, hitting $69.96. 1,049,486 shares of the company's stock were exchanged, compared to its average volume of 1,669,726. The company's 50-day moving average price is $70.65 and its 200-day moving average price is $62.82. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a "neutral" rating for the company. Wells Fargo & Company dropped their price target on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. Wolfe Research began coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a "peer perform" rating for the company. Stifel Nicolaus initiated coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a "sell" rating in a research report on Monday, August 12th. One research 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. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $68.29.

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.