Edgewood Management LLC Lowers Stock Holdings in Solventum Co. (NYSE:SOLV)

Edgewood Management LLC decreased its position in shares of Solventum Co. (NYSE:SOLV) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,299 shares of the company’s stock after selling 510 shares during the period. Edgewood Management LLC’s holdings in Solventum were worth $5,180,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SOLV. LRI Investments LLC purchased a new stake in Solventum during the first quarter valued at about $43,000. Magnetar Financial LLC purchased a new stake in Solventum during the first quarter valued at about $3,478,000. Alpine Global Management LLC purchased a new position in shares of Solventum in the first quarter worth about $1,766,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Solventum in the first quarter worth about $5,889,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Solventum in the first quarter worth about $30,000.

Solventum Price Performance

Solventum stock opened at $69.63 on Friday. The stock’s 50 day simple moving average is $70.51 and its two-hundred day simple moving average is $62.31. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SOLV shares. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Wells Fargo & Company decreased their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Morgan Stanley lifted their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus started coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Solventum currently has an average rating of “Hold” and a consensus target price of $68.00.

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.