Solventum Co. (NYSE:SOLV) Stake Lessened by M&T Bank Corp

M&T Bank Corp lowered its holdings in Solventum Co. (NYSE:SOLV) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,115 shares of the company’s stock after selling 2,492 shares during the period. M&T Bank Corp’s holdings in Solventum were worth $2,452,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SOLV. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Solventum in the third quarter worth $125,488,000. Trian Fund Management L.P. increased its stake in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after acquiring an additional 1,765,676 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Solventum in the third quarter worth $50,948,000. Nordea Investment Management AB increased its stake in shares of Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after acquiring an additional 431,986 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Solventum by 725.3% in the fourth quarter. KBC Group NV now owns 234,933 shares of the company’s stock worth $15,520,000 after acquiring an additional 206,466 shares during the last quarter.

Solventum Stock Up 2.9 %

SOLV stock opened at $77.96 on Monday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a 50-day moving average of $73.65 and a two-hundred day moving average of $70.71. The stock has a market capitalization of $13.49 billion and a price-to-earnings ratio of 28.35.

Analyst Ratings Changes

A number of research firms have recently weighed in on SOLV. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Piper Sandler upped their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley increased their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Finally, Mizuho increased their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.86.

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.