State of Alaska Department of Revenue Reduces Stock Holdings in Solventum Co. (NYSE:SOLV)

State of Alaska Department of Revenue reduced its stake in shares of Solventum Co. (NYSE:SOLV) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,760 shares of the company’s stock after selling 315 shares during the period. State of Alaska Department of Revenue’s holdings in Solventum were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trian Fund Management L.P. grew its stake in Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp grew its stake in Solventum by 3.1% during the 3rd 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. Geode Capital Management LLC grew its stake in Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Solventum during the 3rd quarter valued at approximately $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Solventum by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock valued at $73,469,000 after purchasing an additional 3,745 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on SOLV. Mizuho began coverage on Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Piper Sandler raised their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Solventum has a consensus rating of “Hold” and a consensus target price of $68.29.

Solventum Trading Up 0.8 %

Shares of SOLV opened at $74.29 on Friday. The stock has a 50 day moving average of $70.57 and a 200-day moving average of $68.35. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52 week low of $47.16 and a 52 week 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.