Franklin Resources Inc. Has $11.17 Million Holdings in Solventum Co. (NYSE:SOLV)

Franklin Resources Inc. reduced its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,020 shares of the company's stock after selling 18,132 shares during the period. Franklin Resources Inc. owned approximately 0.09% of Solventum worth $11,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Solventum during the second quarter worth approximately $347,000. Fifth Third Bancorp bought a new position in shares of Solventum in the 2nd quarter valued at $321,000. Louisiana State Employees Retirement System acquired a new position in shares of Solventum during the 2nd quarter worth $415,000. New York State Teachers Retirement System bought a new stake in shares of Solventum during the 2nd quarter worth $7,652,000. Finally, Retirement Systems of Alabama acquired a new stake in Solventum in the second quarter valued at about $1,612,000.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several research analyst reports. Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They set a "neutral" rating and a $70.00 target price for the company. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price target for the company. Finally, Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They set a "peer perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Solventum has an average rating of "Hold" and an average price target of $68.29.

Solventum Stock Performance

SOLV traded up $0.03 during midday trading on Friday, hitting $66.83. 1,770,990 shares of the company were exchanged, compared to its average volume of 1,624,806. The firm's 50 day moving average price is $70.90 and its 200-day moving average price is $63.55. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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.