Philip James Wealth Mangement LLC Lowers Holdings in Solventum Co. (NYSE:SOLV)

Philip James Wealth Mangement LLC decreased its position in Solventum Co. (NYSE:SOLV) by 18.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 54,432 shares of the company’s stock after selling 12,479 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Solventum were worth $3,596,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC increased its stake in Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after acquiring an additional 37,600 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after purchasing an additional 32,051 shares during the last quarter. State Street Corp increased its position in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden bought a new position in shares of Solventum during the 4th quarter valued at approximately $1,876,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler boosted their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho assumed coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.29.

Solventum Stock Down 0.4 %

Shares of SOLV stock opened at $74.04 on Monday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The stock has a fifty day simple moving average of $70.75 and a two-hundred day simple moving average of $68.58. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.