Wellington Management Group LLP Has $483,000 Holdings in Solventum Co. (NYSE:SOLV)

Wellington Management Group LLP cut its stake in Solventum Co. (NYSE:SOLV - Free Report) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,933 shares of the company's stock after selling 14,735 shares during the period. Wellington Management Group LLP's holdings in Solventum were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Trian Fund Management L.P. raised its stake 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 valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp boosted its position 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 acquiring an additional 185,938 shares in the last quarter. Davis Selected Advisers acquired a new stake in shares of Solventum during the 2nd quarter valued at about $273,070,000. Nuance Investments LLC bought a new stake in Solventum in the second quarter valued at about $115,829,000. Finally, Newport Trust Company LLC bought a new stake in Solventum in the second quarter valued at about $98,976,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price objective on the stock. Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 price target on the stock. Piper Sandler increased their price objective on Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Finally, BTIG Research started coverage on shares of Solventum in a research report on Thursday, September 5th. They set a "neutral" rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $68.29.

Solventum Stock Up 0.0 %

Solventum stock traded up $0.03 during mid-day trading on Friday, hitting $66.83. The stock had a trading volume of 1,770,990 shares, compared to its average volume of 1,624,806. The stock has a 50-day simple moving average of $70.90 and a two-hundred day simple moving average of $63.50. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

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.