Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Solventum Co. (NYSE:SOLV)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,590 shares of the company’s stock after selling 4,201 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Solventum were worth $5,200,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SOLV. Deseret Mutual Benefit Administrators acquired a new position in Solventum during the second quarter worth approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of Solventum during the 2nd quarter worth $25,000. Richard W. Paul & Associates LLC purchased a new position in shares of Solventum in the 2nd quarter worth $26,000. Family Firm Inc. purchased a new position in shares of Solventum in the 2nd quarter worth $26,000. Finally, Copeland Capital Management LLC acquired a new position in Solventum in the third quarter valued at $26,000.

Solventum Price Performance

SOLV opened at $69.56 on Friday. 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 company has a fifty day simple moving average of $70.65 and a 200 day simple moving average of $62.82. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Analyst Upgrades and Downgrades

SOLV has been the topic of a number of research reports. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Piper Sandler boosted their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.