Solventum Co. (NYSE:SOLV) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 22.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,607 shares of the company’s stock after selling 11,702 shares during the quarter. M&T Bank Corp’s holdings in Solventum were worth $2,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SOLV. Trian Fund Management L.P. grew its position in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after acquiring an additional 1,765,676 shares in the last quarter. State Street Corp grew its holdings in Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Davis Selected Advisers purchased a new stake in Solventum during the 2nd quarter worth $273,070,000. Nuance Investments LLC acquired a new position in Solventum in the 2nd quarter worth $115,829,000. Finally, Newport Trust Company LLC purchased a new position in Solventum in the 2nd quarter valued at about $98,976,000.

Solventum Price Performance

NYSE SOLV opened at $69.56 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a 50-day simple moving average of $70.91 and a 200-day simple moving average of $63.19.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective for the company. 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 company. According to MarketBeat, Solventum has a consensus 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.