Private Trust Co. NA Cuts Stock Position in Solventum Co. (NYSE:SOLV)

Private Trust Co. NA reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,723 shares of the company’s stock after selling 417 shares during the quarter. Private Trust Co. NA’s holdings in Solventum were worth $190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new stake in Solventum during the second quarter worth approximately $25,000. Hollencrest Capital Management purchased a new position in Solventum during the second quarter worth $25,000. Partnership Wealth Management LLC bought a new position in Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC bought a new position in Solventum during the second quarter valued at $26,000. Finally, Family Firm Inc. purchased a new stake in shares of Solventum in the second quarter valued at $26,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on SOLV. Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Piper Sandler increased their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Solventum presently has an average rating of “Hold” and a consensus price target of $68.00.

Solventum Stock Performance

Shares of Solventum stock opened at $72.48 on Friday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The stock’s fifty day moving average price is $70.52 and its 200-day moving average price is $62.54. 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.