Mengis Capital Management Inc. Decreases Stock Holdings in Solventum Co. (NYSE:SOLV)

Mengis Capital Management Inc. lessened its holdings in shares of Solventum Co. (NYSE:SOLV) by 30.2% during the third quarter, Holdings Channel reports. The firm owned 2,885 shares of the company’s stock after selling 1,247 shares during the quarter. Mengis Capital Management Inc.’s holdings in Solventum were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SOLV. Deseret Mutual Benefit Administrators bought a new stake in shares of Solventum in the 2nd quarter worth approximately $25,000. Hollencrest Capital Management bought a new stake in Solventum in the second quarter valued at $25,000. Partnership Wealth Management LLC purchased a new position in Solventum during the 2nd quarter valued at $26,000. Richard W. Paul & Associates LLC purchased a new stake in shares of Solventum in the 2nd quarter worth about $26,000. Finally, Family Firm Inc. bought a new stake in shares of Solventum during the 2nd quarter valued at about $26,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company dropped their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.00.

Solventum Price Performance

Shares of NYSE SOLV opened at $70.04 on Thursday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a 50 day moving average of $70.37 and a 200 day moving average of $62.12.

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.