HighTower Advisors LLC Trims Stake in Solventum Co. (NYSE:SOLV)

HighTower Advisors LLC trimmed its holdings in shares of Solventum Co. (NYSE:SOLV) by 16.3% in the third quarter, Holdings Channel reports. The firm owned 32,042 shares of the company’s stock after selling 6,238 shares during the period. HighTower Advisors LLC’s holdings in Solventum were worth $2,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after acquiring an additional 32,051 shares during the period. First Horizon Advisors Inc. acquired a new position in Solventum during the second quarter worth $58,000. Swedbank AB acquired a new position in Solventum during the second quarter worth $4,711,000. American Investment Services Inc. acquired a new stake in shares of Solventum in the second quarter valued at $892,000. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in shares of Solventum in the 2nd quarter valued at $4,166,000.

Analyst Ratings Changes

A number of equities analysts recently commented on SOLV shares. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Price Performance

Solventum stock opened at $69.56 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a fifty day simple moving average of $70.91 and a 200-day simple moving average of $63.22. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

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.