Solventum Co. (NYSE:SOLV) Stock Position Cut by Haverford Trust Co

Haverford Trust Co trimmed its stake in shares of Solventum Co. (NYSE:SOLV) by 22.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,013 shares of the company’s stock after selling 1,449 shares during the quarter. Haverford Trust Co’s holdings in Solventum were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Davis Selected Advisers bought a new position in Solventum during the 2nd quarter valued at $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the second quarter worth about $115,829,000. Newport Trust Company LLC bought a new stake in shares of Solventum in the 2nd quarter worth approximately $98,976,000. Baupost Group LLC MA bought a new position in shares of Solventum in the second quarter valued at $96,242,000. Finally, Magnetar Financial LLC lifted its holdings in shares of Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOLV. Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Wolfe Research began coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Piper Sandler raised their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus began coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Down 3.0 %

SOLV stock opened at $67.93 on Friday. Solventum Co. has a 1-year low of $47.16 and a 1-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. The business’s 50 day moving average is $70.46 and its 200-day moving average is $62.17.

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.