Glenmede Trust Co. NA Decreases Holdings in Solventum Co. (NYSE:SOLV)

Glenmede Trust Co. NA lowered its stake in Solventum Co. (NYSE:SOLV) by 47.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,343 shares of the company’s stock after selling 11,196 shares during the period. Glenmede Trust Co. NA’s holdings in Solventum were worth $861,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kiltearn Partners LLP purchased a new position in shares of Solventum in the 3rd quarter worth approximately $2,838,000. Bridgewater Associates LP purchased a new position in Solventum during the third quarter worth $1,316,000. Townsquare Capital LLC bought a new position in Solventum during the third quarter valued at $544,000. QVIDTVM Management LLC raised its stake in shares of Solventum by 13.5% in the third quarter. QVIDTVM Management LLC now owns 497,276 shares of the company’s stock valued at $34,670,000 after acquiring an additional 59,059 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after acquiring an additional 32,051 shares during the last quarter.

Solventum Stock Performance

Shares of Solventum stock opened at $71.95 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock’s fifty day moving average price is $70.55 and its 200-day moving average price is $62.58. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOLV. Morgan Stanley increased their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research assumed coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Finally, Wells Fargo & Company cut 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 given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.