CIBC Private Wealth Group LLC Sells 478 Shares of Solventum Co. (NYSE:SOLV)

CIBC Private Wealth Group LLC reduced its holdings in shares of Solventum Co. (NYSE:SOLV) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 64,115 shares of the company’s stock after selling 478 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Solventum were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in shares of Solventum during the third quarter worth $317,000. The Manufacturers Life Insurance Company raised its stake in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after purchasing an additional 32,051 shares during the period. Townsquare Capital LLC bought a new stake in shares of Solventum during the 3rd quarter valued at $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Solventum by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Solventum by 22.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,920 shares of the company’s stock worth $343,000 after purchasing an additional 900 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Mizuho raised their price target on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Finally, Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $79.86.

Solventum Price Performance

Shares of NYSE:SOLV opened at $76.29 on Wednesday. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a market capitalization of $13.20 billion and a price-to-earnings ratio of 27.74. The company’s fifty day moving average price is $75.60 and its 200-day moving average price is $71.97.

Solventum 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.