Salem Investment Counselors Inc. Decreases Stake in Solventum Co. (NYSE:SOLV)

Salem Investment Counselors Inc. trimmed its position in shares of Solventum Co. (NYSE:SOLV) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,474 shares of the company’s stock after selling 1,844 shares during the period. Salem Investment Counselors Inc.’s holdings in Solventum were worth $560,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in Solventum by 6.5% during the 4th quarter. Czech National Bank now owns 29,966 shares of the company’s stock worth $1,980,000 after acquiring an additional 1,820 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position 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 during the last quarter. Nordea Investment Management AB grew its stake in shares of Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Solventum in the fourth quarter valued at $305,000. Finally, Modus Advisors LLC acquired a new stake in Solventum in the fourth quarter valued at $25,000.

Solventum Price Performance

NYSE:SOLV opened at $68.46 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm’s fifty day moving average price is $69.24 and its 200 day moving average price is $65.12. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several analyst reports. Morgan Stanley upped their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research began coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Piper Sandler increased their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Solventum in a research note 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, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and an average price target of $68.29.

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.