Ridgewood Investments LLC Has $54,000 Position in Solventum Co. (NYSE:SOLV)

Ridgewood Investments LLC lessened its position in shares of Solventum Co. (NYSE:SOLV) by 44.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 821 shares of the company’s stock after selling 648 shares during the quarter. Ridgewood Investments LLC’s holdings in Solventum were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SOLV. Trian Fund Management L.P. grew its position in shares of Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after buying an additional 1,765,676 shares during the period. State Street Corp grew its position in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after buying an additional 185,938 shares during the period. Geode Capital Management LLC grew its position in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after buying an additional 128,317 shares during the period. Nuance Investments LLC acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $115,829,000. Finally, Newport Trust Company LLC acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $98,976,000.

Solventum Price Performance

Shares of NYSE:SOLV opened at $67.19 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The stock’s fifty day simple moving average is $69.32 and its two-hundred day simple moving average is $64.80. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOLV shares. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Mizuho began coverage on shares of Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.29.

About Solventum

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.