13,759 Shares in Solventum Co. (NYSE:SOLV) Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC bought a new stake in shares of Solventum Co. (NYSE:SOLV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,759 shares of the company's stock, valued at approximately $909,000.

Other large investors have also bought and sold shares of the company. IHT Wealth Management LLC purchased a new stake in shares of Solventum during the third quarter worth $266,000. Quantinno Capital Management LP bought a new position in Solventum in the third quarter valued at $448,000. State Street Corp raised its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company's stock valued at $425,818,000 after buying an additional 185,938 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Solventum during the third quarter worth approximately $356,000. Finally, EP Wealth Advisors LLC bought a new stake in Solventum in the third quarter worth $355,000.

Solventum Stock Performance

Shares of NYSE SOLV traded up $0.81 during trading on Monday, reaching $67.00. 147,535 shares of the company traded hands, compared to its average volume of 1,186,435. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The stock has a market capitalization of $11.59 billion and a PE ratio of 24.36. The firm has a 50 day simple moving average of $74.19 and a 200-day simple moving average of $71.72.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Piper Sandler lifted their price target on shares of Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Mizuho raised their price target on Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Wells Fargo & Company upped their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group raised their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum currently has a consensus rating of "Hold" and a consensus target price of $79.86.

About Solventum

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.