Truist Financial Corp Cuts Stock Position in Solventum Co. (NYSE:SOLV)

Truist Financial Corp decreased its position in shares of Solventum Co. (NYSE:SOLV) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,515 shares of the company’s stock after selling 3,921 shares during the period. Truist Financial Corp’s holdings in Solventum were worth $4,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SOLV. Blue Trust Inc. raised its holdings in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock worth $549,000 after purchasing an additional 161 shares during the period. MML Investors Services LLC grew its holdings in Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock valued at $373,000 after buying an additional 168 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Solventum by 4.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock worth $346,000 after purchasing an additional 200 shares during the last quarter. Savant Capital LLC grew its stake in shares of Solventum by 6.3% in the 4th quarter. Savant Capital LLC now owns 3,914 shares of the company’s stock valued at $259,000 after buying an additional 233 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Solventum by 2.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,677 shares of the company’s stock worth $904,000 after acquiring an additional 264 shares during the last quarter.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upped their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Mizuho started coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Trading Down 1.9 %

NYSE:SOLV opened at $73.08 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The stock’s 50 day moving average price is $71.14 and its 200 day moving average price is $69.24.

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.