Ancora Advisors LLC Cuts Stake in Solventum Co. (NYSE:SOLV)

Ancora Advisors LLC cut its holdings in Solventum Co. (NYSE:SOLV) by 71.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,566 shares of the company’s stock after selling 18,608 shares during the quarter. Ancora Advisors LLC’s holdings in Solventum were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in Solventum in the 4th quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in shares of Solventum in the fourth quarter valued at $32,000. Synergy Asset Management LLC acquired a new position in shares of Solventum during the 4th quarter worth $35,000. Spire Wealth Management purchased a new stake in shares of Solventum in the 4th quarter worth about $37,000. Finally, Global Trust Asset Management LLC grew its stake in Solventum by 137.5% in the 4th quarter. Global Trust Asset Management LLC now owns 570 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares during the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Piper Sandler lowered their target price on Solventum from $84.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Mizuho increased their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their target price 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.29.

Solventum Stock Down 1.1 %

Shares of NYSE SOLV opened at $66.90 on Tuesday. The stock has a fifty day moving average price of $71.25 and a 200 day moving average price of $71.42. The company has a market cap of $11.57 billion and a P/E ratio of 24.33. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.