Nuance Investments LLC lessened its stake in Solventum Co. (NYSE:SOLV - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,356,217 shares of the company's stock after selling 283,136 shares during the quarter. Solventum makes up about 3.6% of Nuance Investments LLC's portfolio, making the stock its 9th biggest holding. Nuance Investments LLC owned 0.79% of Solventum worth $89,592,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Modus Advisors LLC purchased a new position in shares of Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Solventum in the 4th quarter valued at approximately $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum during the 4th quarter worth approximately $32,000. True Wealth Design LLC raised its position in Solventum by 23,550.0% in the third 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 period. Finally, Synergy Asset Management LLC acquired a new position in shares of Solventum in the 4th quarter valued at $35,000.
Solventum Stock Down 1.0 %
SOLV traded down $0.73 on Friday, hitting $74.78. 1,933,229 shares of the company were exchanged, compared to its average volume of 1,475,014. The firm has a 50-day moving average price of $75.51 and a two-hundred day moving average price of $71.85. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a market cap of $12.94 billion and a price-to-earnings ratio of 27.19.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on SOLV shares. Mizuho boosted their price objective on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Bank of America upped their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley lifted their target price on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.86.
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Solventum Profile
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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.
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