Peapack Gladstone Financial Corp Trims Stock Holdings in Solventum Co. (NYSE:SOLV)

Peapack Gladstone Financial Corp lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,001 shares of the company’s stock after selling 6,642 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Solventum were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Trian Fund Management L.P. grew its holdings in shares of Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after buying an additional 1,765,676 shares in the last quarter. State Street Corp grew its stake in Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after acquiring an additional 185,938 shares during the period. Davis Selected Advisers acquired a new position in Solventum in the 2nd quarter valued at $273,070,000. Geode Capital Management LLC lifted its stake in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after purchasing an additional 128,317 shares during the period. Finally, Nuance Investments LLC acquired a new stake in shares of Solventum during the second quarter worth $115,829,000.

Solventum Stock Down 0.6 %

Shares of NYSE SOLV opened at $69.56 on Monday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. 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 business has a 50 day simple moving average of $70.91 and a 200-day simple moving average of $63.24.

Analysts Set New Price Targets

SOLV has been the subject of several analyst reports. Piper Sandler upped their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Mizuho initiated coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average target price of $68.29.

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.