Glenmede Trust Co. NA Sells 11,196 Shares of Solventum Co. (NYSE:SOLV)

Glenmede Trust Co. NA decreased its stake in shares of Solventum Co. (NYSE:SOLV) by 47.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,343 shares of the company’s stock after selling 11,196 shares during the period. Glenmede Trust Co. NA’s holdings in Solventum were worth $861,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Davis Selected Advisers bought a new stake in shares of Solventum in the second quarter worth $273,070,000. Nuance Investments LLC bought a new stake in shares of Solventum during the 2nd quarter valued at about $115,829,000. Newport Trust Company LLC purchased a new stake in shares of Solventum during the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA bought a new position in shares of Solventum in the 2nd quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC boosted its holdings in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Solventum Stock Performance

Shares of SOLV opened at $71.95 on Tuesday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business’s 50 day moving average is $70.55 and its 200 day moving average is $62.58.

Analysts Set New Price Targets

Several research firms have weighed in on SOLV. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their price objective 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.00.

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.