Welch & Forbes LLC Has $236,000 Stock Holdings in Solventum Co. (NYSE:SOLV)

Welch & Forbes LLC trimmed its position in shares of Solventum Co. (NYSE:SOLV - Free Report) by 60.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,573 shares of the company's stock after selling 5,537 shares during the quarter. Welch & Forbes LLC's holdings in Solventum were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. New York Life Investment Management LLC raised its holdings in shares of Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares during the period. Blue Trust Inc. raised its stake in shares of Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after purchasing an additional 161 shares during the period. MML Investors Services LLC lifted its holdings in shares of Solventum by 3.2% in the third quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock valued at $373,000 after purchasing an additional 168 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Solventum by 4.2% during the third 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 during the period. Finally, Savant Capital LLC grew its holdings in shares of Solventum by 6.3% during the fourth 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.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Bank of America increased their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.86.

Solventum Stock Performance

SOLV traded down $1.94 during trading hours on Wednesday, reaching $73.95. The company's stock had a trading volume of 1,039,309 shares, compared to its average volume of 1,438,568. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company's 50-day moving average is $74.08 and its 200-day moving average is $70.94. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The firm has a market cap of $12.79 billion and a PE ratio of 26.89.

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.