Solventum Co. (NYSE:SOLV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Solventum Co. (NYSE:SOLV) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,833 shares of the company’s stock after selling 23,835 shares during the period. PNC Financial Services Group Inc. owned approximately 0.14% of Solventum worth $15,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SOLV. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Solventum in the 3rd quarter valued at $125,488,000. Trian Fund Management L.P. lifted its position in Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares during the period. Point72 Asset Management L.P. purchased a new stake in Solventum in the third quarter valued at $50,948,000. Nordea Investment Management AB grew its position in Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after purchasing an additional 431,986 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Solventum during the 4th quarter valued at about $18,583,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SOLV shares. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Morgan Stanley increased their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price target on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus price target of $79.86.

Solventum Price Performance

Shares of NYSE SOLV opened at $77.73 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a fifty day moving average of $73.88 and a 200 day moving average of $70.83. The firm has a market cap of $13.45 billion and a PE ratio of 28.26. Solventum Co. has a one year low of $47.16 and a one year high of $85.92.

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.