Glenmede Trust Co. NA Sells 11,196 Shares of Solventum Co. (NYSE:SOLV)

Glenmede Trust Co. NA trimmed its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 47.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,343 shares of the company's stock after selling 11,196 shares during the period. Glenmede Trust Co. NA's holdings in Solventum were worth $861,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SOLV. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Solventum by 4.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company's stock worth $346,000 after acquiring an additional 200 shares in the last quarter. National Bank of Canada FI raised its position in Solventum by 4.0% in the second quarter. National Bank of Canada FI now owns 6,093 shares of the company's stock valued at $314,000 after purchasing an additional 236 shares during the period. IVC Wealth Advisors LLC lifted its position in Solventum by 5.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company's stock worth $464,000 after acquiring an additional 318 shares in the last quarter. KKM Financial LLC raised its position in shares of Solventum by 7.9% during the 3rd quarter. KKM Financial LLC now owns 4,367 shares of the company's stock valued at $304,000 after acquiring an additional 319 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Solventum during the third quarter valued at approximately $26,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a research note on Monday, August 12th. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a "neutral" rating on the stock. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They issued a "peer perform" rating for the company. Finally, Piper Sandler lifted their target price on Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. One 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. Based on data from MarketBeat.com, Solventum presently has a consensus rating of "Hold" and a consensus target price of $68.00.

Solventum Stock Down 1.7 %

NYSE SOLV traded down $1.24 on Tuesday, reaching $70.75. 1,254,546 shares of the stock traded hands, compared to its average volume of 1,680,883. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. 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 firm's fifty day simple moving average is $70.55 and its 200 day simple moving average is $62.58.

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.