Prudential Financial Inc. Sells 5,638 Shares of Solventum Co. (NYSE:SOLV)

Prudential Financial Inc. lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 6.0% during the 4th quarter, Holdings Channel reports. The firm owned 88,940 shares of the company’s stock after selling 5,638 shares during the period. Prudential Financial Inc.’s holdings in Solventum were worth $5,875,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum during the 3rd quarter valued at approximately $125,488,000. Boston Partners bought a new position in shares of Solventum during the fourth quarter worth $110,378,000. Point72 Asset Management L.P. purchased a new position in Solventum during the third quarter valued at $50,948,000. Nordea Investment Management AB grew its stake in Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after acquiring an additional 431,986 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Solventum in the 4th quarter valued at $18,583,000.

Wall Street Analyst Weigh In

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

Solventum Price Performance

NYSE:SOLV opened at $74.78 on Monday. The firm has a market capitalization of $12.94 billion and a price-to-earnings ratio of 27.19. 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 business has a 50 day simple moving average of $75.51 and a 200-day simple moving average of $71.87. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92.

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.