Hennessy Advisors Inc. Has $411,000 Stake in Solventum Co. (NYSE:SOLV)

Hennessy Advisors Inc. lowered its position in Solventum Co. (NYSE:SOLV) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,225 shares of the company’s stock after selling 400 shares during the period. Hennessy Advisors Inc.’s holdings in Solventum were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SOLV. Trian Fund Management L.P. raised its position in Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the last quarter. State Street Corp raised its stake in shares of Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after buying an additional 128,317 shares during the period. Baupost Group LLC MA bought a new stake in shares of Solventum during the 2nd quarter valued at $96,242,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Solventum in the 3rd quarter worth $125,488,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SOLV. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Mizuho began coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price for the company. Morgan Stanley raised their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.29.

Solventum Trading Up 1.2 %

Shares of SOLV opened at $73.60 on Friday. The firm has a 50-day moving average of $69.12 and a 200-day moving average of $65.49. 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 Company 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.