Solventum Co. (NYSE:SOLV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Solventum Co. (NYSE:SOLV - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,833 shares of the company's stock after selling 23,835 shares during the quarter. PNC Financial Services Group Inc. owned 0.14% of Solventum worth $15,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. New York Life Investment Management LLC raised its holdings in Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after purchasing an additional 136 shares during the period. Blue Trust Inc. raised its holdings in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock worth $549,000 after purchasing an additional 161 shares during the period. MML Investors Services LLC raised its holdings in Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock worth $373,000 after purchasing an additional 168 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Solventum by 4.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company's stock worth $346,000 after buying an additional 200 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Solventum by 6.3% during the 4th quarter. Savant Capital LLC now owns 3,914 shares of the company's stock worth $259,000 after buying an additional 233 shares in the last quarter.

Remove Ads

Solventum Stock Performance

Shares of SOLV stock traded up $2.01 during mid-day trading on Friday, hitting $74.31. 1,142,880 shares of the stock were exchanged, compared to its average volume of 1,434,765. The stock's fifty day simple moving average is $74.37 and its two-hundred day simple moving average is $70.97. The stock has a market capitalization of $12.85 billion and a price-to-earnings ratio of 27.02. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America upped their price objective on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley upped their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their target price on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.