Eastern Bank Reduces Stock Holdings in Solventum Co. (NYSE:SOLV)

Eastern Bank cut its position in shares of Solventum Co. (NYSE:SOLV) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098 shares of the company’s stock after selling 411 shares during the period. Eastern Bank’s holdings in Solventum were worth $73,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SOLV. Newport Trust Company LLC acquired a new position in Solventum in the second quarter valued at approximately $98,976,000. Baupost Group LLC MA purchased a new position in shares of Solventum during the 2nd quarter worth $96,242,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Solventum during the 3rd quarter worth about $125,488,000. Trian Fund Management L.P. raised its holdings in Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after buying an additional 1,765,676 shares during the period. Finally, Magnetar Financial LLC raised its holdings in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. 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. Mizuho initiated coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. Morgan Stanley boosted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Wolfe Research initiated coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.29.

Solventum Price Performance

SOLV opened at $70.25 on Wednesday. The business has a fifty day moving average price of $69.18 and a 200 day moving average price of $65.24. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

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.