Wells Fargo & Company MN Sells 132,135 Shares of Solventum Co. (NYSE:SOLV)

Wells Fargo & Company MN decreased its position in shares of Solventum Co. (NYSE:SOLV) by 29.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 313,704 shares of the company’s stock after selling 132,135 shares during the quarter. Wells Fargo & Company MN’s holdings in Solventum were worth $20,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Quantitative Investments LLC acquired a new position in shares of Solventum in the fourth quarter valued at about $377,000. Atlas Capital Advisors Inc. bought a new stake in Solventum in the 4th quarter valued at about $63,000. Motley Fool Asset Management LLC grew its position in shares of Solventum by 9.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 3,781 shares of the company’s stock worth $250,000 after purchasing an additional 333 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock worth $227,992,000 after purchasing an additional 112,686 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Solventum by 1,587.6% during the fourth quarter. National Bank of Canada FI now owns 67,977 shares of the company’s stock worth $4,491,000 after purchasing an additional 63,949 shares during the period.

Analyst Ratings Changes

SOLV has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho upped their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.86.

Solventum Trading Up 1.6 %

SOLV opened at $66.19 on Friday. The company has a market cap of $11.45 billion and a P/E ratio of 24.07. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company’s 50 day moving average is $74.19 and its 200-day moving average is $71.70. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92.

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.