Cornercap Investment Counsel Inc. Sells 1,227 Shares of Solventum Co. (NYSE:SOLV)

Cornercap Investment Counsel Inc. reduced its holdings in Solventum Co. (NYSE:SOLV) by 27.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,227 shares of the company’s stock after selling 1,227 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Solventum were worth $225,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Davis Selected Advisers bought a new stake in Solventum in the 2nd quarter valued at $273,070,000. Nuance Investments LLC bought a new stake in shares of Solventum in the second quarter valued at about $115,829,000. Newport Trust Company LLC acquired a new position in shares of Solventum during the second quarter worth about $98,976,000. Baupost Group LLC MA bought a new position in shares of Solventum during the second quarter worth about $96,242,000. Finally, Magnetar Financial LLC raised its position in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on SOLV. Piper Sandler upped their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. BTIG Research began coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.00.

Solventum Stock Down 0.5 %

NYSE:SOLV opened at $67.12 on Tuesday. The firm’s fifty day moving average price is $70.54 and its two-hundred day moving average price is $62.20. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. 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.