Solventum Co. (NYSE:SOLV) Shares Sold by Eastern Bank

Eastern Bank reduced its position in shares of Solventum Co. (NYSE:SOLV) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,098 shares of the company’s stock after selling 411 shares during the period. Eastern Bank’s holdings in Solventum were worth $73,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newport Trust Company LLC purchased a new stake in Solventum during the 2nd quarter worth about $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum during the 2nd quarter worth about $96,242,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum during the third quarter worth approximately $125,488,000. Trian Fund Management L.P. boosted its holdings in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. Finally, Magnetar Financial LLC increased its stake in Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the last quarter.

Solventum Stock Up 2.5 %

Solventum stock opened at $70.25 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a 50 day moving average of $69.18 and a two-hundred day moving average of $65.24. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Wall Street Analysts Forecast Growth

SOLV has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Mizuho started coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. Stifel Nicolaus began coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Finally, Piper Sandler boosted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One equities 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. Based on data from MarketBeat, Solventum has a consensus rating of “Hold” and a consensus price target of $68.29.

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.