Chevy Chase Trust Holdings LLC Trims Holdings in Solventum Co. (NYSE:SOLV)

Chevy Chase Trust Holdings LLC lessened its stake in Solventum Co. (NYSE:SOLV) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,590 shares of the company’s stock after selling 4,201 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Solventum were worth $5,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in Solventum in the first quarter valued at about $30,000. GAMMA Investing LLC bought a new stake in shares of Solventum in the 2nd quarter valued at approximately $74,000. CWM LLC acquired a new stake in shares of Solventum during the 2nd quarter valued at approximately $473,000. Simplicity Wealth LLC bought a new position in Solventum during the second quarter worth $225,000. Finally, Wesbanco Bank Inc. acquired a new position in Solventum in the second quarter worth $519,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SOLV. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Mizuho began coverage on Solventum in a report on Wednesday. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Price Performance

SOLV opened at $69.56 on Friday. The stock’s 50 day moving average price is $70.65 and its 200 day moving average price is $62.82. 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 12 month low of $47.16 and a 12 month high of $96.05.

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.