Royce & Associates LP Sells 8,000 Shares of Solventum Co. (NYSE:SOLV)

Royce & Associates LP cut its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 24.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 8,000 shares during the quarter. Royce & Associates LP's holdings in Solventum were worth $1,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Modus Advisors LLC acquired a new position in Solventum in the 4th quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Solventum in the fourth quarter valued at approximately $26,000. Crews Bank & Trust acquired a new stake in shares of Solventum in the fourth quarter worth $32,000. True Wealth Design LLC increased its position in Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company's stock worth $33,000 after acquiring an additional 471 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Solventum in the 3rd quarter valued at $35,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company upped their price target on Solventum from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Piper Sandler raised their target price on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Morgan Stanley boosted their price target 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 raised their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Finally, Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.86.

Remove Ads

Solventum Trading Up 0.9 %

Shares of Solventum stock traded up $0.67 during trading on Tuesday, reaching $74.87. 1,083,684 shares of the company were exchanged, compared to its average volume of 1,427,904. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The business has a 50-day moving average price of $75.29 and a 200-day moving average price of $71.67. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $12.95 billion and a price-to-earnings ratio of 27.23.

Solventum Company 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.