Solventum Co. (NYSE:SOLV) Position Cut by M&T Bank Corp

M&T Bank Corp trimmed its holdings in Solventum Co. (NYSE:SOLV) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,115 shares of the company’s stock after selling 2,492 shares during the quarter. M&T Bank Corp’s holdings in Solventum were worth $2,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SOLV. Janney Montgomery Scott LLC grew its holdings in Solventum by 9.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 42,931 shares of the company’s stock worth $2,993,000 after buying an additional 3,848 shares in the last quarter. Van ECK Associates Corp lifted its position in Solventum by 53.9% in the third quarter. Van ECK Associates Corp now owns 36,694 shares of the company’s stock worth $2,660,000 after purchasing an additional 12,847 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Solventum by 29.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 27,826 shares of the company’s stock worth $1,940,000 after purchasing an additional 6,260 shares during the period. Asset Management One Co. Ltd. lifted its position in Solventum by 0.9% in the third quarter. Asset Management One Co. Ltd. now owns 53,597 shares of the company’s stock worth $3,737,000 after purchasing an additional 464 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in Solventum in the third quarter worth approximately $213,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Mizuho upped their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.86.

Solventum Price Performance

Shares of NYSE:SOLV opened at $77.96 on Monday. The stock has a fifty day moving average of $73.65 and a 200-day moving average of $70.71. The company has a market capitalization of $13.49 billion and a PE ratio of 28.35. Solventum Co. has a one year low of $47.16 and a one year high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

About Solventum

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.