Kornitzer Capital Management Inc. KS Cuts Holdings in Solventum Co. (NYSE:SOLV)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,061 shares of the company's stock after selling 5,561 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Solventum were worth $268,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. Modus Advisors LLC purchased a new stake in shares of Solventum during the 4th quarter worth about $25,000. Copeland Capital Management LLC acquired a new stake in Solventum in the 3rd quarter valued at $26,000. Stonebridge Financial Group LLC bought a new position in Solventum in the 4th quarter valued at $26,000. Crews Bank & Trust bought a new position in Solventum in the 4th quarter valued at $32,000. Finally, True Wealth Design LLC raised its position in Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company's stock valued at $33,000 after purchasing an additional 471 shares during the last quarter.

Solventum Price Performance

Shares of NYSE:SOLV traded down $1.57 during mid-day trading on Friday, hitting $72.93. 300,185 shares of the company traded hands, compared to its average volume of 883,202. The stock has a 50-day moving average price of $71.07 and a two-hundred day moving average price of $68.95. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of research analyst reports. Mizuho began coverage on Solventum in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 target price for the company. Piper Sandler increased their price objective on Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $68.29.

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.