Royce & Associates LP Cuts Holdings in Solventum Co. (NYSE:SOLV)

Royce & Associates LP cut its holdings in Solventum Co. (NYSE:SOLV) by 13.2% during the third quarter, Holdings Channel reports. The institutional investor owned 33,000 shares of the company’s stock after selling 5,000 shares during the quarter. Royce & Associates LP’s holdings in Solventum were worth $2,301,000 at the end of the most recent reporting period.

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

Solventum Stock Performance

Shares of SOLV opened at $67.05 on Wednesday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company’s 50 day simple moving average is $70.51 and its 200 day simple moving average is $62.21. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SOLV shares. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Piper Sandler raised their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

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.