Wells Fargo & Company MN Decreases Stake in Solventum Co. (NYSE:SOLV)

Wells Fargo & Company MN lessened its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 313,704 shares of the company's stock after selling 132,135 shares during the quarter. Wells Fargo & Company MN owned approximately 0.18% of Solventum worth $20,723,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its position in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock valued at $3,103,000 after purchasing an additional 9,333 shares in the last quarter. Forsta AP Fonden bought a new stake in shares of Solventum in the 4th quarter valued at $1,876,000. New York State Teachers Retirement System lifted its position in shares of Solventum by 4.0% during the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company's stock valued at $8,238,000 after acquiring an additional 4,819 shares during the period. Strategic Financial Concepts LLC bought a new position in Solventum during the fourth quarter worth $990,000. Finally, Exchange Traded Concepts LLC grew its holdings in Solventum by 1,593.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,650 shares of the company's stock worth $968,000 after purchasing an additional 13,785 shares during the period.

Analyst Ratings Changes

SOLV has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley boosted their price objective on Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Finally, Bank of America boosted their price target 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $79.86.

Solventum Stock Performance

Shares of SOLV stock traded up $0.56 during trading on Friday, hitting $66.23. The company's stock had a trading volume of 910,263 shares, compared to its average volume of 1,325,909. The business has a fifty day moving average of $73.56 and a 200-day moving average of $71.62. The company has a market cap of $11.46 billion and a PE ratio of 24.08. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.