J.P. Marvel Investment Advisors LLC Reduces Stock Position in Solventum Co. (NYSE:SOLV)

J.P. Marvel Investment Advisors LLC reduced its holdings in Solventum Co. (NYSE:SOLV) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,106 shares of the company’s stock after selling 673 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Solventum were worth $668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Trian Fund Management L.P. boosted its stake in shares of Solventum by 32.9% during 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 period. State Street Corp boosted its stake in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares during the period. Geode Capital Management LLC boosted 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. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Solventum during the 3rd quarter worth about $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Solventum by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company. 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. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Stock Performance

Shares of Solventum stock opened at $74.04 on Friday. The firm’s 50 day moving average price is $70.75 and its 200-day moving average price is $68.51. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

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.