Patten & Patten Inc. TN Lowers Position in Solventum Co. (NYSE:SOLV)

Patten & Patten Inc. TN trimmed its holdings in shares of Solventum Co. (NYSE:SOLV) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,075 shares of the company’s stock after selling 463 shares during the quarter. Patten & Patten Inc. TN’s holdings in Solventum were worth $203,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Modus Advisors LLC acquired a new stake in shares of Solventum in the 4th quarter worth $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum during the 4th quarter worth $26,000. True Wealth Design LLC grew its holdings in shares of Solventum by 23,550.0% during the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after purchasing an additional 471 shares during the period. Crews Bank & Trust purchased a new position in shares of Solventum during the 4th quarter worth $32,000. Finally, Prospera Private Wealth LLC purchased a new position in Solventum during the 3rd quarter valued at about $35,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SOLV. Bank of America raised their target price on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their target price on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Piper Sandler raised their target price on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Finally, Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Solventum presently has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

Shares of NYSE SOLV opened at $75.04 on Tuesday. The firm has a market capitalization of $12.98 billion and a PE ratio of 27.29. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The stock’s 50-day simple moving average is $74.65 and its 200-day simple moving average is $71.30. 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 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.