Edgewood Management LLC Sells 510 Shares of Solventum Co. (NYSE:SOLV)

Edgewood Management LLC reduced its stake in Solventum Co. (NYSE:SOLV) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 74,299 shares of the company’s stock after selling 510 shares during the quarter. Edgewood Management LLC’s holdings in Solventum were worth $5,180,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. LRI Investments LLC bought a new position in Solventum in the 1st quarter valued at approximately $43,000. Magnetar Financial LLC bought a new position in Solventum in the 1st quarter valued at approximately $3,478,000. Alpine Global Management LLC purchased a new stake in Solventum during the 1st quarter valued at $1,766,000. Price T Rowe Associates Inc. MD purchased a new stake in Solventum during the 1st quarter valued at $5,889,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Solventum during the 1st quarter valued at $30,000.

Analyst Ratings Changes

SOLV has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Solventum has a consensus rating of “Hold” and a consensus target price of $68.00.

Solventum Stock Up 1.8 %

Shares of NYSE:SOLV opened at $69.63 on Friday. The stock has a 50 day moving average of $70.51 and a 200 day moving average of $62.31. 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 12-month low of $47.16 and a 12-month high of $96.05.

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.