Legal & General Group Plc Reduces Stock Position in Solventum Co. (NYSE:SOLV)

Legal & General Group Plc decreased its position in Solventum Co. (NYSE:SOLV) by 27.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 522,021 shares of the company’s stock after selling 198,773 shares during the quarter. Legal & General Group Plc owned about 0.30% of Solventum worth $34,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in shares of Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Solventum in the fourth quarter worth approximately $26,000. Crews Bank & Trust acquired a new position in Solventum during the fourth quarter worth approximately $32,000. Synergy Asset Management LLC purchased a new position in shares of Solventum in the 4th quarter worth $35,000. Finally, Spire Wealth Management purchased a new stake in Solventum during the fourth quarter valued at about $37,000.

Solventum Price Performance

SOLV opened at $66.19 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a 50-day moving average of $74.19 and a 200-day moving average of $71.70. The company has a market capitalization of $11.45 billion and a P/E ratio of 24.07.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOLV. Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Morgan Stanley increased their price target 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 boosted their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. The Goldman Sachs Group increased their target price on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Finally, Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.