Envestnet Portfolio Solutions Inc. Has $502,000 Stake in Solventum Co. (NYSE:SOLV)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Solventum Co. (NYSE:SOLV) by 19.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,601 shares of the company’s stock after selling 1,891 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Solventum were worth $502,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Worldquant Millennium Advisors LLC increased its stake in Solventum by 373.6% during the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after acquiring an additional 37,600 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after purchasing an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after purchasing an additional 32,051 shares during the period. State Street Corp raised its stake in shares of Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Finally, Forsta AP Fonden bought a new position in Solventum in the fourth quarter worth $1,876,000.

Solventum Trading Up 0.9 %

Shares of SOLV opened at $74.87 on Wednesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a market cap of $12.95 billion and a price-to-earnings ratio of 27.23. The stock has a fifty day moving average price of $75.38 and a two-hundred day moving average price of $71.73. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92.

Analyst Ratings Changes

Several equities research analysts have issued reports on SOLV shares. Morgan Stanley boosted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. The Goldman Sachs Group raised 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. Mizuho upped their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Finally, Bank of America raised their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.86.

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.