Solventum dips as 3M to slice stake
ReutersAug 13, 2025 9:29 PM
** 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
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