TD Waterhouse Canada Inc. Trims Position in Solventum Co. (NYSE:SOLV)

TD Waterhouse Canada Inc. lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 25.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 735 shares of the company’s stock after selling 252 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Solventum were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Solventum by 71.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,731 shares of the company’s stock worth $445,000 after purchasing an additional 2,804 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Solventum by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 36,583 shares of the company’s stock worth $2,417,000 after purchasing an additional 652 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Solventum by 10.4% during the fourth quarter. Norinchukin Bank The now owns 6,357 shares of the company’s stock worth $420,000 after purchasing an additional 599 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Solventum during the fourth quarter worth about $633,000. Finally, First Trust Advisors LP grew its holdings in shares of Solventum by 147.6% during the fourth quarter. First Trust Advisors LP now owns 139,990 shares of the company’s stock worth $9,248,000 after purchasing an additional 83,458 shares in the last quarter.

Solventum Stock Performance

Shares of SOLV stock opened at $66.07 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The stock has a 50 day moving average price of $72.42 and a two-hundred day moving average price of $71.59. The company has a market capitalization of $11.43 billion and a P/E ratio of 24.03.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Piper Sandler boosted their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley boosted their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho boosted their target price on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, Bank of America boosted their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum has an average rating of “Hold” and an average target price of $79.86.

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.