Solventum Co. (NYSE:SOLV) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC lessened its position in shares of Solventum Co. (NYSE:SOLV) by 38.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,497 shares of the company’s stock after selling 13,148 shares during the period. TrinityPoint Wealth LLC’s holdings in Solventum were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Solventum in the first quarter worth $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Solventum during the 1st quarter worth $209,000. LRI Investments LLC acquired a new stake in Solventum in the 1st quarter valued at $43,000. Magnetar Financial LLC purchased a new position in Solventum in the first quarter valued at about $3,478,000. Finally, Alpine Global Management LLC acquired a new position in shares of Solventum during the first quarter worth about $1,766,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SOLV. Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. Wells Fargo & Company lowered their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.00.

Solventum Stock Down 0.6 %

SOLV opened at $67.48 on Monday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm’s fifty day moving average price is $70.54 and its 200 day moving average price is $62.18.

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.