Sumitomo Mitsui Trust Group Inc. Has $25.96 Million Stake in Solventum Co. (NYSE:SOLV)

Sumitomo Mitsui Trust Group Inc. lowered its stake in Solventum Co. (NYSE:SOLV) by 19.8% during the third quarter, Holdings Channel.com reports. The fund owned 372,289 shares of the company’s stock after selling 91,645 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Solventum were worth $25,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum during the 2nd quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in Solventum during the 2nd quarter worth $25,000. Partnership Wealth Management LLC acquired a new position in shares of Solventum in the second quarter valued at about $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum during the 2nd quarter worth approximately $26,000. Finally, Family Firm Inc. acquired a new stake in Solventum during the second quarter worth approximately $26,000.

Solventum Stock Down 0.6 %

Solventum stock opened at $67.48 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The business has a 50-day simple moving average of $70.54 and a 200 day simple moving average of $62.22. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Analyst Upgrades and Downgrades

SOLV has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Wells Fargo & Company decreased their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. BTIG Research started coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Finally, Piper Sandler upped their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and a consensus target price of $68.00.

About Solventum

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.