Mariner LLC Reduces Position in Solventum Co. (NYSE:SOLV)

Mariner LLC lowered its holdings in Solventum Co. (NYSE:SOLV - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 65,614 shares of the company's stock after selling 6,008 shares during the quarter. Mariner LLC's holdings in Solventum were worth $4,334,000 at the end of the most recent reporting period.

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

Solventum Price Performance

Shares of NYSE SOLV traded down $1.03 during trading on Friday, hitting $66.51. 159,131 shares of the company were exchanged, compared to its average volume of 1,144,014. The firm's fifty day moving average price is $72.74 and its 200 day moving average price is $71.57. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $11.51 billion and a price-to-earnings ratio of 24.18. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $85.92.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target 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 objective on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Piper Sandler boosted their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned 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 $79.86.

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.