Prudential Financial Inc. Sells 5,638 Shares of Solventum Co. (NYSE:SOLV)

Prudential Financial Inc. cut its stake in shares of Solventum Co. (NYSE:SOLV) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,940 shares of the company’s stock after selling 5,638 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Solventum worth $5,875,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Modus Advisors LLC purchased a new stake in shares of Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new position in Solventum in the 4th quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in Solventum during the 4th quarter valued at $32,000. True Wealth Design LLC increased its holdings in shares of Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after purchasing an additional 471 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Solventum in the fourth quarter worth $35,000.

Solventum Stock Down 1.0 %

Shares of SOLV stock opened at $74.78 on Monday. The company has a 50 day simple moving average of $75.51 and a two-hundred day simple moving average of $71.87. The stock has a market cap of $12.94 billion and a P/E ratio of 27.19. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Mizuho lifted their price target on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Bank of America boosted their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Piper Sandler increased their price target on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.