Kentucky Retirement Systems Insurance Trust Fund Sells 365 Shares of Solventum Co. (NYSE:SOLV)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Solventum Co. (NYSE:SOLV) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,091 shares of the company’s stock after selling 365 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Solventum were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new stake in shares of Solventum during the 2nd quarter worth about $25,000. Hollencrest Capital Management bought a new stake in shares of Solventum during the 2nd quarter worth about $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum during the 2nd quarter worth about $26,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum during the 2nd quarter worth about $26,000. Finally, Family Firm Inc. bought a new stake in shares of Solventum during the 2nd quarter worth about $26,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Morgan Stanley lifted 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. The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus assumed coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Solventum Price Performance

SOLV stock opened at $67.05 on Wednesday. The company has a 50 day simple moving average of $70.51 and a 200 day simple moving average of $62.21. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.