HighMark Wealth Management LLC Decreases Stock Position in Solventum Co. (NYSE:SOLV)

HighMark Wealth Management LLC cut its stake in Solventum Co. (NYSE:SOLV) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,161 shares of the company’s stock after selling 272 shares during the period. HighMark Wealth Management LLC’s holdings in Solventum were worth $143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Solventum during the third quarter valued at approximately $125,488,000. Trian Fund Management L.P. increased its holdings in shares of Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after acquiring an additional 1,765,676 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Solventum in the 3rd quarter worth $50,948,000. Nordea Investment Management AB boosted its position in Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Solventum by 4,765.0% in the third quarter. Assenagon Asset Management S.A. now owns 319,628 shares of the company’s stock valued at $22,284,000 after purchasing an additional 313,058 shares during the last quarter.

Solventum Stock Down 0.4 %

Solventum stock opened at $74.04 on Tuesday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The business’s 50-day moving average price is $70.75 and its 200 day moving average price is $68.65. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Solventum presently has an average rating of “Hold” and a consensus target price of $68.29.

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.