Franklin Resources Inc. Sells 55,590 Shares of Solventum Co. (NYSE:SOLV)

Franklin Resources Inc. decreased its position in Solventum Co. (NYSE:SOLV - Free Report) by 34.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,430 shares of the company's stock after selling 55,590 shares during the quarter. Franklin Resources Inc. owned about 0.06% of Solventum worth $6,965,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG raised its holdings in Solventum by 292.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 12,986 shares of the company's stock valued at $858,000 after buying an additional 9,673 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Solventum by 22.7% during the 4th quarter. Wellington Management Group LLP now owns 8,504 shares of the company's stock valued at $562,000 after acquiring an additional 1,571 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Solventum by 16.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,175 shares of the company's stock valued at $342,000 after acquiring an additional 731 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Solventum by 41.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,193,361 shares of the company's stock worth $78,833,000 after purchasing an additional 347,669 shares during the last quarter. Finally, Allstate Corp bought a new stake in Solventum during the fourth quarter worth approximately $288,000.

Analyst Upgrades and Downgrades

SOLV has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Morgan Stanley lifted their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group boosted their price objective on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Solventum presently has a consensus rating of "Hold" and an average target price of $79.86.

Solventum Stock Performance

Shares of NYSE:SOLV traded down $0.64 during trading on Tuesday, hitting $67.16. 146,658 shares of the stock were exchanged, compared to its average volume of 1,333,303. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a market capitalization of $11.62 billion and a price-to-earnings ratio of 24.44. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company's fifty day simple moving average is $74.05 and its 200-day simple moving average is $71.73.

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.