Solventum Co. (NYSE:SOLV) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in Solventum Co. (NYSE:SOLV) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 522,021 shares of the company’s stock after selling 198,773 shares during the quarter. Legal & General Group Plc’s holdings in Solventum were worth $34,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 valued at $1,223,000 after buying an additional 136 shares during the last quarter. Blue Trust Inc. raised its stake in Solventum by 2.1% during the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after acquiring an additional 161 shares in the last quarter. MML Investors Services LLC boosted its position in Solventum by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after acquiring an additional 168 shares during the period. Avantax Advisory Services Inc. grew its position in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Solventum by 48.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company’s stock valued at $45,000 after acquiring an additional 223 shares during the period.

Solventum Price Performance

Shares of SOLV opened at $66.19 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market capitalization of $11.45 billion and a price-to-earnings ratio of 24.07. The business’s 50-day moving average is $74.19 and its 200-day moving average is $71.70. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Mizuho raised their target price on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. 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. Piper Sandler lifted 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, Morgan Stanley boosted their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Company 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.