Strategic Financial Concepts LLC Invests $990,000 in Solventum Co. (NYSE:SOLV)

Strategic Financial Concepts LLC purchased a new stake in Solventum Co. (NYSE:SOLV) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 14,992 shares of the company’s stock, valued at approximately $990,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOLV. Exchange Traded Concepts LLC bought a new position in shares of Solventum in the 3rd quarter valued at about $60,000. Blue Trust Inc. acquired a new position in Solventum in the third quarter valued at approximately $538,000. Copeland Capital Management LLC acquired a new stake in Solventum during the 3rd quarter worth $26,000. Foundations Investment Advisors LLC bought a new stake in shares of Solventum during the 3rd quarter valued at $345,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Solventum by 8.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,737 shares of the company’s stock valued at $400,000 after purchasing an additional 441 shares during the period.

Solventum Price Performance

NYSE SOLV opened at $74.27 on Wednesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The business has a 50 day simple moving average of $70.82 and a 200 day simple moving average of $68.76.

Analyst Upgrades and Downgrades

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