Charles Schwab Investment Management Inc. Sells 136,479 Shares of Solventum Co. (NYSE:SOLV)

Charles Schwab Investment Management Inc. trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185,461 shares of the company’s stock after selling 136,479 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of Solventum worth $82,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC bought a new position in Solventum during the third quarter worth $26,000. Mather Group LLC. bought a new position in shares of Solventum during the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum during the first quarter valued at about $30,000. Hollencrest Capital Management bought a new stake in shares of Solventum in the second quarter valued at about $25,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in Solventum during the second quarter worth about $25,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Stifel Nicolaus initiated coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. The Goldman Sachs Group upped their target price on 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 shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. Piper Sandler raised their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.00.

Solventum Stock Up 1.4 %

NYSE:SOLV opened at $72.48 on Thursday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company’s 50-day moving average price is $70.51 and its two-hundred day moving average price is $62.47. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

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.