Solventum Co. (NYSE:SOLV) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in shares of Solventum Co. (NYSE:SOLV - Free Report) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 258,216 shares of the company's stock after selling 157,644 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of Solventum worth $17,060,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Solventum in the 3rd quarter valued at $568,000. Wilmington Savings Fund Society FSB lifted its holdings in Solventum by 196.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 17,062 shares of the company's stock valued at $1,190,000 after purchasing an additional 11,312 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Solventum by 3.0% in the third quarter. Principal Financial Group Inc. now owns 169,615 shares of the company's stock valued at $11,826,000 after purchasing an additional 4,896 shares during the period. GAMMA Investing LLC increased its stake in shares of Solventum by 35.3% during the fourth quarter. GAMMA Investing LLC now owns 3,329 shares of the company's stock worth $220,000 after purchasing an additional 868 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Solventum during the fourth quarter worth about $25,000.

Solventum Trading Up 2.8 %

Shares of Solventum stock traded up $1.87 during trading hours on Friday, hitting $67.49. The company's stock had a trading volume of 295,638 shares, compared to its average volume of 1,283,403. The firm has a fifty day moving average of $71.91 and a 200-day moving average of $71.49. 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 has a market cap of $11.68 billion and a price-to-earnings ratio of 24.55. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SOLV. Piper Sandler decreased their target price on Solventum from $84.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday. Bank of America boosted their target price on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, 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 report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $79.29.

Solventum Company 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.