Solventum Co. (NYSE:SOLV) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Solventum Co. (NYSE:SOLV) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,727 shares of the company’s stock after selling 1,583 shares during the quarter. Corebridge Financial Inc.’s holdings in Solventum were worth $2,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SOLV. Modus Advisors LLC bought a new position in Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Solventum during the fourth quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Solventum during the fourth quarter worth about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Solventum in the 4th quarter worth about $35,000. Finally, Spire Wealth Management bought a new stake in Solventum in the 4th quarter valued at about $37,000.

Analyst Ratings Changes

Several equities research analysts have commented on SOLV shares. Morgan Stanley raised their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Bank of America lifted their target price on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Piper Sandler increased their price target on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. The Goldman Sachs Group upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

NYSE:SOLV opened at $76.29 on Wednesday. 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 business’s 50-day moving average price is $75.60 and its 200 day moving average price is $71.97. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The firm has a market cap of $13.20 billion and a P/E ratio of 27.74.

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.