Peapack Gladstone Financial Corp Sells 3,656 Shares of Solventum Co. (NYSE:SOLV)

Peapack Gladstone Financial Corp cut its position in shares of Solventum Co. (NYSE:SOLV) by 28.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,345 shares of the company’s stock after selling 3,656 shares during the period. Peapack Gladstone Financial Corp’s holdings in Solventum were worth $617,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SOLV. Modus Advisors LLC bought a new position in shares of Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum in the 4th quarter valued at $26,000. Crews Bank & Trust purchased a new stake in shares of Solventum during the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new stake in Solventum during the fourth quarter valued at about $35,000. Finally, Spire Wealth Management purchased a new position in Solventum in the fourth quarter valued at about $37,000.

Solventum Trading Down 3.5 %

Solventum stock opened at $63.04 on Wednesday. The stock has a 50-day moving average price of $74.76 and a 200 day moving average price of $71.78. The company has a market capitalization of $10.91 billion and a price-to-earnings ratio of 22.92. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SOLV shares. Piper Sandler raised their price target on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Morgan Stanley increased their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their target price on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Mizuho increased their price target on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group boosted their price target on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.86.

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.