Glenview Trust co Cuts Stock Position in Solventum Co. (NYSE:SOLV)

Glenview Trust co lessened its stake in Solventum Co. (NYSE:SOLV) by 12.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,939 shares of the company’s stock after selling 679 shares during the quarter. Glenview Trust co’s holdings in Solventum were worth $326,000 as of its most recent SEC filing.

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 position in Solventum in the third quarter valued at about $125,488,000. Trian Fund Management L.P. grew its stake in shares of Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after acquiring an additional 1,765,676 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Solventum during the third quarter worth about $50,948,000. Nordea Investment Management AB grew its stake in shares of Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after acquiring an additional 431,986 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Solventum during the fourth quarter worth about $18,583,000.

Solventum Trading Up 1.2 %

Shares of NYSE:SOLV opened at $75.04 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $12.98 billion and a PE ratio of 27.29. The business has a 50 day moving average of $74.65 and a two-hundred day moving average of $71.30. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92.

Wall Street Analyst Weigh In

SOLV has been the topic of a number of research analyst reports. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Piper Sandler boosted their price target on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. One 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’s stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average target price of $79.86.

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.