Anchor Capital Advisors LLC Sells 24,448 Shares of Solventum Co. (NYSE:SOLV)

Anchor Capital Advisors LLC lowered its position in Solventum Co. (NYSE:SOLV) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 651,074 shares of the company’s stock after selling 24,448 shares during the quarter. Solventum comprises 1.2% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Anchor Capital Advisors LLC owned approximately 0.38% of Solventum worth $43,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Solventum in the 4th quarter valued at approximately $263,000. Proficio Capital Partners LLC purchased a new position in shares of Solventum in the fourth quarter valued at $1,545,000. New York Life Investment Management LLC raised its stake in shares of Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after purchasing an additional 136 shares during the period. Apriem Advisors purchased a new stake in Solventum during the 4th quarter worth about $333,000. Finally, Bank of New York Mellon Corp boosted its stake in Solventum by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 943,699 shares of the company’s stock worth $62,341,000 after purchasing an additional 36,907 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SOLV shares. Piper Sandler upped their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Mizuho began coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target on the stock. One investment 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 MarketBeat.com, Solventum currently has an average rating of “Hold” and an average target price of $71.86.

Solventum Trading Down 0.7 %

Shares of NYSE:SOLV opened at $83.46 on Friday. The company’s fifty day moving average price is $72.25 and its 200-day moving average price is $69.73. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.

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.