Kornitzer Capital Management Inc. KS Trims Stock Position in Solventum Co. (NYSE:SOLV)

Kornitzer Capital Management Inc. KS cut its stake in shares of Solventum Co. (NYSE:SOLV) by 57.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,061 shares of the company’s stock after selling 5,561 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Solventum were worth $268,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Modus Advisors LLC purchased a new position in shares of Solventum during the fourth quarter worth approximately $25,000. Copeland Capital Management LLC purchased a new position in Solventum during the third quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new position in Solventum during the fourth quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in Solventum during the fourth quarter valued at approximately $32,000. Finally, True Wealth Design LLC increased its holdings in Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after buying an additional 471 shares during the period.

Solventum Price Performance

Shares of SOLV opened at $73.97 on Thursday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a 50 day moving average of $70.98 and a two-hundred day moving average of $68.91. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Analyst Ratings Changes

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

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.