Brown Brothers Harriman & Co. Lowers Stake in Solventum Co. (NYSE:SOLV)

Brown Brothers Harriman & Co. reduced its position in shares of Solventum Co. (NYSE:SOLV) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,293 shares of the company’s stock after selling 192 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Solventum were worth $369,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Solventum during the 1st quarter worth about $5,889,000. CWM LLC purchased a new stake in shares of Solventum during the 2nd quarter worth about $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth about $493,000. First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth about $58,000. Finally, Swedbank AB purchased a new stake in shares of Solventum during the 2nd quarter worth about $4,711,000.

Solventum Stock Performance

Solventum stock opened at $72.48 on Thursday. The firm has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $62.47. 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.

Analysts Set New Price Targets

Several research firms recently weighed in on SOLV. The Goldman Sachs Group upped their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Piper Sandler upped their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Wolfe Research began coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

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.