JPMorgan Chase & Co. Lowers Position in Solventum Co. (NYSE:SOLV)

JPMorgan Chase & Co. cut its position in shares of Solventum Co. (NYSE:SOLV) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 599,284 shares of the company’s stock after selling 9,661 shares during the period. JPMorgan Chase & Co.’s holdings in Solventum were worth $41,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC increased its stake in shares of Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after buying an additional 32,051 shares in the last quarter. State Street Corp raised its stake in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after buying an additional 185,938 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Solventum in the third quarter worth $50,948,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Solventum during the third quarter valued at approximately $125,488,000.

Solventum Stock Up 1.8 %

Solventum stock opened at $67.12 on Monday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The firm has a 50 day moving average of $69.77 and a 200 day moving average of $64.41. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley increased their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Wolfe Research started coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.29.

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.