Avior Wealth Management LLC Lowers Stock Position in Solventum Co. (NYSE:SOLV)

Avior Wealth Management LLC trimmed its stake in Solventum Co. (NYSE:SOLV) by 21.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,410 shares of the company’s stock after selling 395 shares during the period. Avior Wealth Management LLC’s holdings in Solventum were worth $98,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SOLV. Davis Selected Advisers purchased a new stake in Solventum in the second quarter valued at approximately $273,070,000. Nuance Investments LLC purchased a new position in Solventum during the 2nd quarter valued at about $115,829,000. Newport Trust Company LLC acquired a new position in Solventum in the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum during the second quarter worth about $96,242,000. Finally, Magnetar Financial LLC lifted its position in shares of Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares in the last quarter.

Solventum Stock Up 1.7 %

NYSE:SOLV opened at $70.81 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 1 year low of $47.16 and a 1 year high of $96.05. The stock has a 50-day simple moving average of $70.53 and a 200-day simple moving average of $62.33.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of research reports. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Piper Sandler increased their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company lowered 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. Finally, Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

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.