B. Riley Wealth Advisors Inc. Cuts Position in Solventum Co. (NYSE:SOLV)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,697 shares of the company’s stock after selling 759 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Solventum were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Trian Fund Management L.P. raised its stake in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp raised its position in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after buying an additional 185,938 shares in the last quarter. Davis Selected Advisers bought a new position in shares of Solventum in the 2nd quarter valued at about $273,070,000. Geode Capital Management LLC grew its position in Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after acquiring an additional 128,317 shares in the last quarter. Finally, Nuance Investments LLC purchased a new position in Solventum in the second quarter worth about $115,829,000.

Solventum Stock Performance

SOLV stock opened at $66.83 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The firm’s 50-day moving average is $70.90 and its 200 day moving average is $63.55.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SOLV. Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective for the company. Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research began coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler upped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.29.

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.