JPMorgan Chase & Co. Cuts Stock Position in Solventum Co. (NYSE:SOLV)

JPMorgan Chase & Co. lessened its position in Solventum Co. (NYSE:SOLV - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 599,284 shares of the company's stock after selling 9,661 shares during the quarter. JPMorgan Chase & Co. owned about 0.35% of Solventum worth $41,782,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Solventum by 3.0% during the third quarter. Principal Financial Group Inc. now owns 169,615 shares of the company's stock worth $11,826,000 after acquiring an additional 4,896 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Solventum by 196.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,062 shares of the company's stock worth $1,190,000 after purchasing an additional 11,312 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Solventum by 95.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,074 shares of the company's stock worth $1,351,000 after purchasing an additional 9,323 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Solventum in the third quarter valued at approximately $568,000. Finally, Toronto Dominion Bank increased its holdings in shares of Solventum by 1.6% in the third quarter. Toronto Dominion Bank now owns 71,096 shares of the company's stock valued at $4,957,000 after purchasing an additional 1,111 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They set a "peer perform" rating on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price objective for the company. Mizuho initiated coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price objective for the company. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Finally, Piper Sandler raised their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. One equities 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's stock. According to MarketBeat.com, Solventum presently has an average rating of "Hold" and a consensus target price of $68.29.

Solventum Stock Up 1.9 %

Shares of NYSE:SOLV traded up $1.27 during mid-day trading on Monday, reaching $68.39. 1,002,039 shares of the company were exchanged, compared to its average volume of 770,340. Solventum Co. has a 1 year low of $47.16 and a 1 year 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 50-day simple moving average is $69.77 and its 200 day simple moving average is $64.41.

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.