PNC Financial Services Group Inc. Sells 43,110 Shares of Solventum Co. (NYSE:SOLV)

PNC Financial Services Group Inc. decreased its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,668 shares of the company's stock after selling 43,110 shares during the quarter. PNC Financial Services Group Inc. owned about 0.15% of Solventum worth $18,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SOLV. Copeland Capital Management LLC bought a new position in Solventum in the third quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in Solventum in the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC bought a new position in Solventum during the 1st quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in shares of Solventum in the 2nd quarter valued at about $25,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum during the second quarter worth about $25,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Stifel Nicolaus began coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a "buy" rating and a $82.00 price objective for the company. The Goldman Sachs Group lifted their target price on Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a research report on Monday, August 12th. Morgan Stanley raised 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. Finally, BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.00.

Solventum Trading Up 1.7 %

NYSE:SOLV traded up $1.18 on Friday, reaching $70.81. 699,753 shares of the stock traded hands, compared to its average volume of 1,708,000. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company's 50 day moving average is $70.53 and its 200-day moving average is $62.35.

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.