Fiduciary Trust Co Sells 3,609 Shares of Solventum Co. (NYSE:SOLV)

Fiduciary Trust Co cut its position in Solventum Co. (NYSE:SOLV) by 27.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,389 shares of the company’s stock after selling 3,609 shares during the quarter. Fiduciary Trust Co’s holdings in Solventum were worth $655,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new stake in Solventum in the 3rd quarter worth about $26,000. Mather Group LLC. purchased a new position in shares of Solventum in the third quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Solventum in the first quarter worth about $30,000. Hollencrest Capital Management bought a new stake in shares of Solventum in the second quarter valued at approximately $25,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in shares of Solventum during the 2nd quarter valued at approximately $25,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SOLV shares. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.00.

Solventum Stock Performance

NYSE:SOLV opened at $71.51 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. The business’s 50-day moving average price is $70.55 and its two-hundred day moving average price is $62.58. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

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.