Rossmore Private Capital Reduces Holdings in Solventum Co. (NYSE:SOLV)

Rossmore Private Capital cut its stake in shares of Solventum Co. (NYSE:SOLV) by 11.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,761 shares of the company’s stock after selling 500 shares during the quarter. Rossmore Private Capital’s holdings in Solventum were worth $262,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SOLV. Copeland Capital Management LLC bought a new position in Solventum during the 3rd quarter valued at approximately $26,000. Mather Group LLC. bought a new position in Solventum during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new position in Solventum during the 1st quarter valued at approximately $30,000. Hollencrest Capital Management bought a new position in Solventum during the 2nd quarter valued at approximately $25,000. Finally, Deseret Mutual Benefit Administrators bought a new position in Solventum during the 2nd quarter valued at approximately $25,000.

Solventum Trading Down 1.2 %

Shares of NYSE:SOLV opened at $70.70 on Wednesday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. 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 stock has a 50 day moving average price of $70.37 and a 200-day moving average price of $62.12.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.