Solventum Co. (NYSE:SOLV) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its stake in Solventum Co. (NYSE:SOLV) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,827 shares of the company’s stock after selling 221 shares during the period. Cannell & Spears LLC’s holdings in Solventum were worth $253,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Solventum by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock valued at $1,074,591,000 after purchasing an additional 75,631 shares during the period. State Street Corp grew its position in shares of Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after acquiring an additional 185,938 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Solventum by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after acquiring an additional 128,317 shares during the period. Norges Bank bought a new stake in Solventum in the 4th quarter valued at about $203,740,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Solventum during the 3rd quarter valued at about $125,488,000.

Solventum Stock Performance

Shares of SOLV opened at $76.29 on Wednesday. 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 firm’s 50 day moving average is $75.60 and its 200-day moving average is $71.97. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The stock has a market capitalization of $13.20 billion and a P/E ratio of 27.74.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOLV. The Goldman Sachs Group lifted their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Mizuho upped their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.86.

Solventum 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.