Nuance Investments LLC Sells 551,057 Shares of Solventum Co. (NYSE:SOLV)

Nuance Investments LLC cut its stake in Solventum Co. (NYSE:SOLV) by 25.2% in the third quarter, Holdings Channel reports. The fund owned 1,639,353 shares of the company’s stock after selling 551,057 shares during the period. Solventum accounts for about 3.8% of Nuance Investments LLC’s portfolio, making the stock its 10th largest holding. Nuance Investments LLC’s holdings in Solventum were worth $114,296,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SOLV. Copeland Capital Management LLC acquired a new position in Solventum in the third quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in Solventum during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum in the first quarter valued at approximately $30,000. Hollencrest Capital Management acquired a new position in shares of Solventum in the second quarter worth $25,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in Solventum during the 2nd quarter worth $25,000.

Solventum Stock Performance

Solventum stock opened at $67.05 on Wednesday. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. 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 stock’s fifty day moving average is $70.51 and its two-hundred day moving average is $62.21.

Wall Street Analyst Weigh In

Several research analysts have commented on SOLV shares. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.00.

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.