Amalgamated Bank Trims Stake in Solventum Co. (NYSE:SOLV)

Amalgamated Bank lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 39.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,185 shares of the company’s stock after selling 17,830 shares during the quarter. Amalgamated Bank’s holdings in Solventum were worth $1,895,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Solventum in the first quarter worth about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Solventum in the 1st quarter worth about $209,000. LRI Investments LLC purchased a new position in shares of Solventum during the first quarter worth approximately $43,000. Magnetar Financial LLC bought a new stake in shares of Solventum during the first quarter valued at approximately $3,478,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Solventum in the first quarter valued at approximately $1,766,000.

Analysts Set New Price Targets

SOLV has been the subject of a number of research analyst reports. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Wells Fargo & Company lowered 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. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday. Piper Sandler upped their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Down 1.2 %

Shares of NYSE:SOLV opened at $70.70 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The business’s 50-day moving average is $70.23 and its 200 day moving average is $62.07. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05.

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.