Solventum Co. (NYSE:SOLV) Shares Sold by LPL Financial LLC

LPL Financial LLC reduced its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,285 shares of the company's stock after selling 13,170 shares during the period. LPL Financial LLC's holdings in Solventum were worth $4,775,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock worth $3,103,000 after acquiring an additional 9,333 shares during the period. State Street Corp grew its position in Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company's stock worth $425,818,000 after purchasing an additional 185,938 shares during the period. Forsta AP Fonden purchased a new position in shares of Solventum during the 4th quarter valued at about $1,876,000. New York State Teachers Retirement System lifted its holdings in shares of Solventum by 4.0% in the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company's stock valued at $8,238,000 after buying an additional 4,819 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Solventum in the fourth quarter worth about $990,000.

Solventum Price Performance

SOLV stock traded up $1.02 during midday trading on Friday, reaching $66.19. The stock had a trading volume of 1,035,827 shares, compared to its average volume of 1,339,581. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a market cap of $11.45 billion and a price-to-earnings ratio of 24.07. The company's fifty day simple moving average is $74.19 and its 200 day simple moving average is $71.72. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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 research note on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Finally, Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $79.86.

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.