Hennessy Advisors Inc. Sells 400 Shares of Solventum Co. (NYSE:SOLV)

Hennessy Advisors Inc. cut its holdings in shares of Solventum Co. (NYSE:SOLV) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,225 shares of the company’s stock after selling 400 shares during the quarter. Hennessy Advisors Inc.’s holdings in Solventum were worth $411,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Copeland Capital Management LLC acquired a new position in Solventum in the third quarter valued at about $26,000. Modus Advisors LLC acquired a new position in shares of Solventum in the 4th quarter valued at approximately $25,000. Mather Group LLC. bought a new stake in shares of Solventum during the 3rd quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $25,000. Finally, True Wealth Design LLC increased its stake in Solventum by 23,550.0% in the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after acquiring an additional 471 shares during the last quarter.

Solventum Stock Up 1.2 %

Solventum stock opened at $73.60 on Friday. The stock’s 50 day moving average is $69.12 and its 200 day moving average is $65.49. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Analyst Ratings Changes

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