Tradition Wealth Management LLC Sells 1,121 Shares of Solventum Co. (NYSE:SOLV)

Tradition Wealth Management LLC lessened its position in shares of Solventum Co. (NYSE:SOLV) by 9.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,526 shares of the company’s stock after selling 1,121 shares during the period. Tradition Wealth Management LLC’s holdings in Solventum were worth $734,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SOLV. Tokio Marine Asset Management Co. Ltd. increased its stake in Solventum by 4.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock valued at $346,000 after purchasing an additional 200 shares in the last quarter. National Bank of Canada FI increased its position in shares of Solventum by 4.0% during the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock worth $314,000 after acquiring an additional 236 shares in the last quarter. IVC Wealth Advisors LLC raised its holdings in shares of Solventum by 5.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock worth $464,000 after acquiring an additional 318 shares during the last quarter. KKM Financial LLC lifted its position in Solventum by 7.9% in the 3rd quarter. KKM Financial LLC now owns 4,367 shares of the company’s stock valued at $304,000 after acquiring an additional 319 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Solventum during the 3rd quarter valued at about $26,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SOLV. Wells Fargo & Company reduced their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Morgan Stanley increased their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus started coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.00.

Solventum Stock Performance

Shares of SOLV stock opened at $71.51 on Monday. The business has a 50-day moving average price of $70.55 and a two-hundred day moving average price of $62.58. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

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.