Integrated Wealth Concepts LLC Reduces Stock Position in Solventum Co. (NYSE:SOLV)

Integrated Wealth Concepts LLC cut its holdings in shares of Solventum Co. (NYSE:SOLV) by 26.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,372 shares of the company’s stock after selling 3,060 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Solventum were worth $584,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after acquiring an additional 32,051 shares in the last quarter. CWM LLC acquired a new position in shares of Solventum in the 2nd quarter worth approximately $473,000. Great Valley Advisor Group Inc. acquired a new position in shares of Solventum in the 2nd quarter worth approximately $493,000. First Horizon Advisors Inc. acquired a new position in shares of Solventum in the 2nd quarter worth approximately $58,000. Finally, Swedbank AB acquired a new position in shares of Solventum in the 2nd quarter worth approximately $4,711,000.

Solventum Trading Down 1.3 %

Shares of SOLV stock opened at $69.68 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The stock has a fifty day moving average of $70.71 and a two-hundred day moving average of $62.96.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SOLV shares. Morgan Stanley lifted their target price on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler boosted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho started coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.29.

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.