Stifel Financial Corp Sells 117,935 Shares of Solventum Co. (NYSE:SOLV)

Stifel Financial Corp reduced its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 52.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,257 shares of the company's stock after selling 117,935 shares during the period. Stifel Financial Corp owned about 0.06% of Solventum worth $7,548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Quantinno Capital Management LP purchased a new stake in Solventum in the third quarter worth $448,000. Redwood Investment Management LLC raised its stake in Solventum by 152.6% in the 3rd quarter. Redwood Investment Management LLC now owns 12,693 shares of the company's stock valued at $858,000 after acquiring an additional 7,668 shares during the period. Point72 Asset Management L.P. bought a new stake in Solventum in the 3rd quarter valued at about $50,948,000. Motley Fool Asset Management LLC bought a new position in Solventum during the third quarter worth about $232,000. Finally, IHT Wealth Management LLC bought a new position in Solventum during the third quarter worth about $266,000.

Solventum Trading Down 0.6 %

NYSE SOLV traded down $0.45 during trading on Friday, reaching $69.56. The company's stock had a trading volume of 607,704 shares, compared to its average volume of 1,641,854. The firm has a fifty day moving average of $70.87 and a 200 day moving average of $63.13. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Analyst Ratings Changes

Several analysts have recently issued reports on SOLV shares. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a "neutral" rating on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They set a "buy" rating and a $82.00 target price on the stock. Piper Sandler raised their price target on Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective 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, Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.29.

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.