Solventum Co. (NYSE:SOLV) Stock Position Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 64.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,637 shares of the company's stock after selling 26,251 shares during the quarter. Los Angeles Capital Management LLC's holdings in Solventum were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Solventum by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 943,699 shares of the company's stock valued at $62,341,000 after acquiring an additional 36,907 shares in the last quarter. Fisher Funds Management LTD acquired a new stake in shares of Solventum in the 4th quarter valued at about $709,000. Wolverine Asset Management LLC bought a new position in shares of Solventum during the fourth quarter worth about $11,296,000. ING Groep NV acquired a new position in Solventum in the fourth quarter worth about $1,166,000. Finally, Handelsbanken Fonder AB acquired a new position in Solventum in the fourth quarter worth about $2,312,000.

Solventum Stock Performance

Shares of Solventum stock traded down $1.20 during trading on Wednesday, hitting $77.79. 1,072,383 shares of the stock were exchanged, compared to its average volume of 1,446,876. The stock has a market cap of $13.44 billion and a PE ratio of 28.29. The stock's fifty day moving average is $73.25 and its 200 day moving average is $70.39. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SOLV shares. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday. Piper Sandler raised their price objective on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Solventum has an average rating of "Hold" and a consensus price target of $79.86.

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.