Sumitomo Mitsui Trust Group Inc. Has $25.96 Million Stock Position in Solventum Co. (NYSE:SOLV)

Sumitomo Mitsui Trust Group Inc. cut its position in Solventum Co. (NYSE:SOLV) by 19.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,289 shares of the company’s stock after selling 91,645 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Solventum worth $25,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its position in shares of Solventum by 670.0% in the third quarter. Los Angeles Capital Management LLC now owns 40,888 shares of the company’s stock valued at $2,851,000 after acquiring an additional 35,578 shares during the period. Sigma Planning Corp acquired a new stake in Solventum in the 3rd quarter worth $241,000. Covestor Ltd increased its holdings in shares of Solventum by 822.6% during the 3rd quarter. Covestor Ltd now owns 2,740 shares of the company’s stock worth $191,000 after purchasing an additional 2,443 shares during the period. Atria Investments Inc raised its position in shares of Solventum by 93.2% during the third quarter. Atria Investments Inc now owns 11,699 shares of the company’s stock valued at $816,000 after buying an additional 5,644 shares during the last quarter. Finally, Equitable Trust Co. grew its position in Solventum by 7.5% during the third quarter. Equitable Trust Co. now owns 6,822 shares of the company’s stock worth $476,000 after buying an additional 475 shares in the last quarter.

Solventum Price Performance

SOLV opened at $67.48 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The firm’s fifty day moving average is $70.54 and its two-hundred day moving average is $62.22.

Analyst Upgrades and Downgrades

A number of analysts have commented on SOLV shares. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group upped their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. BTIG Research initiated coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Piper Sandler upped their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.00.

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.