PNC Financial Services Group Inc. Has $18.45 Million Stake in Solventum Co. (NYSE:SOLV)

PNC Financial Services Group Inc. cut its position in shares of Solventum Co. (NYSE:SOLV) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,668 shares of the company’s stock after selling 43,110 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Solventum were worth $18,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Solventum in the third quarter worth approximately $231,000. LMR Partners LLP raised its stake in Solventum by 552.6% during the 3rd quarter. LMR Partners LLP now owns 178,828 shares of the company’s stock worth $12,468,000 after buying an additional 151,424 shares during the period. Cincinnati Financial Corp bought a new position in Solventum in the third quarter worth approximately $385,000. Swiss National Bank grew its stake in Solventum by 0.7% in the third quarter. Swiss National Bank now owns 435,709 shares of the company’s stock valued at $30,378,000 after acquiring an additional 3,000 shares during the period. Finally, Accredited Investors Inc. increased its holdings in shares of Solventum by 14.1% during the third quarter. Accredited Investors Inc. now owns 8,723 shares of the company’s stock valued at $608,000 after acquiring an additional 1,079 shares in the last quarter.

Solventum Trading Up 1.8 %

Shares of SOLV opened at $69.63 on Friday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock’s 50-day simple moving average is $70.51 and its 200 day simple moving average is $62.31.

Analysts Set New Price Targets

Several analysts recently issued reports on SOLV shares. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research began coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued 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. Finally, The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.00.

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.