Solventum dips as 3M to slice stake

Solventum

13/08/2025 22:29

** Shares of medical device maker Solventum SOLV.N down 1.2% to $73.50 post-market after secondary offering news

    ** SOLV launches offering of 8.8 mln shares to be offloaded by 3M MMM.N

    ** Goldman Sachs and BofA are underwriters

    ** MMM owns ~34.37 mln SOLV shares for 19.8% stake, according to a SEC filing

** Goldman Sachs and BofA are underwriters for the offering

** MMM completed the spin-off its health care business in Apr 2024 and retained a 19.9% stake in what is now SOLV

** Shares of SOLV closed up 3.2% at $74.38 on Wed, up nearly 13% YTD

    ** Of 13 analysts covering SOLV, recommendation breakdown is 5 "strong buy" or "buy", 7 "hold" and 1 "sell"; median PT is $85.66, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))