Lakeside Advisors INC. Lowers Stock Holdings in Solventum Co. (NYSE:SOLV)

Lakeside Advisors INC. lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,987 shares of the company’s stock after selling 565 shares during the quarter. Lakeside Advisors INC.’s holdings in Solventum were worth $462,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Worldquant Millennium Advisors LLC grew its holdings in Solventum by 373.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after purchasing an additional 37,600 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after buying an additional 9,333 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after buying an additional 32,051 shares during the last quarter. State Street Corp increased its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of Solventum in the 4th quarter worth $1,876,000.

Solventum Price Performance

NYSE SOLV opened at $74.44 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a 50-day simple moving average of $71.07 and a 200-day simple moving average of $68.95.

Wall Street Analyst Weigh In

Several research firms have issued reports on SOLV. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho initiated coverage on shares of Solventum in a report 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.