Kornitzer Capital Management Inc. KS Sells 5,561 Shares of Solventum Co. (NYSE:SOLV)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Solventum Co. (NYSE:SOLV) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,061 shares of the company’s stock after selling 5,561 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Solventum were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SOLV. Exchange Traded Concepts LLC bought a new position in shares of Solventum during the 3rd quarter valued at about $60,000. Blue Trust Inc. bought a new position in shares of Solventum in the 3rd quarter valued at about $538,000. Copeland Capital Management LLC bought a new position in shares of Solventum in the 3rd quarter valued at about $26,000. Foundations Investment Advisors LLC bought a new position in shares of Solventum in the 3rd quarter valued at about $345,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Solventum by 8.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,737 shares of the company’s stock valued at $400,000 after acquiring an additional 441 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SOLV. Mizuho began coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. Piper Sandler increased 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 increased 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.29.

Solventum Stock Performance

Shares of NYSE SOLV opened at $73.97 on Thursday. The firm has a 50-day simple moving average of $70.98 and a two-hundred day simple moving average of $68.91. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

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.