Strategic Financial Concepts LLC Takes Position in Solventum Co. (NYSE:SOLV)

Strategic Financial Concepts LLC purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,992 shares of the company’s stock, valued at approximately $990,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Trian Fund Management L.P. grew its stake in Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. State Street Corp grew its stake in Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Geode Capital Management LLC grew its stake in Solventum by 4.0% in the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Solventum in the third quarter valued at about $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Solventum by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock valued at $73,469,000 after purchasing an additional 3,745 shares in the last quarter.

Solventum Stock Performance

NYSE SOLV opened at $73.57 on Wednesday. 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 current ratio of 1.15 and a quick ratio of 0.83. The stock has a 50-day simple moving average of $70.45 and a 200 day simple moving average of $68.20.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SOLV shares. Mizuho started coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Morgan Stanley boosted their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.