Retirement Systems of Alabama Sells 373 Shares of Solventum Co. (NYSE:SOLV)

Retirement Systems of Alabama lowered its stake in Solventum Co. (NYSE:SOLV) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,106 shares of the company’s stock after selling 373 shares during the period. Retirement Systems of Alabama’s holdings in Solventum were worth $2,099,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in Solventum in the second quarter worth about $347,000. Raymond James & Associates bought a new stake in shares of Solventum during the 2nd quarter worth approximately $16,986,000. Fifth Third Bancorp purchased a new position in Solventum during the 2nd quarter valued at $321,000. Louisiana State Employees Retirement System bought a new position in Solventum in the 2nd quarter valued at $415,000. Finally, New York State Teachers Retirement System purchased a new stake in Solventum in the second quarter worth $7,652,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SOLV shares. Piper Sandler boosted their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho initiated coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Stock Up 0.0 %

Shares of SOLV stock opened at $66.83 on Friday. The stock’s fifty day moving average price is $70.90 and its 200 day moving average price is $63.50. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum 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.