Meyer Handelman Co. Sells 10,662 Shares of Solventum Co. (NYSE:SOLV)

Meyer Handelman Co. cut its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,422 shares of the company's stock after selling 10,662 shares during the quarter. Meyer Handelman Co.'s holdings in Solventum were worth $821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trian Fund Management L.P. boosted its holdings in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company's stock worth $496,842,000 after buying an additional 1,765,676 shares during the period. State Street Corp boosted its stake in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company's stock valued at $425,818,000 after buying an additional 185,938 shares during the period. Geode Capital Management LLC increased its stake in shares of Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company's stock worth $232,608,000 after acquiring an additional 128,317 shares during the last quarter. Newport Trust Company LLC purchased a new stake in shares of Solventum during the second quarter worth $98,976,000. Finally, Baupost Group LLC MA acquired a new stake in Solventum during the second quarter valued at $96,242,000.

Solventum Trading Up 2.6 %

SOLV traded up $1.81 during midday trading on Wednesday, reaching $72.00. 1,025,464 shares of the company's stock were exchanged, compared to its average volume of 1,030,175. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The business has a 50-day simple moving average of $69.18 and a two-hundred day simple moving average of $65.24. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Analyst Ratings Changes

SOLV has been the subject of several recent research reports. Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a "peer perform" rating for the company. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a "buy" rating and a $82.00 price objective for the company. Finally, Morgan Stanley boosted their price target on Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. 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. Based on data from MarketBeat.com, Solventum currently has a consensus rating of "Hold" and an average price target of $68.29.

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.