Oak Thistle LLC Buys New Shares in Solventum Co. (NYSE:SOLV)

Oak Thistle LLC purchased a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,755 shares of the company's stock, valued at approximately $512,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in shares of Solventum by 6.5% in the 4th quarter. Czech National Bank now owns 29,966 shares of the company's stock worth $1,980,000 after acquiring an additional 1,820 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock worth $3,103,000 after purchasing an additional 9,333 shares in the last quarter. Nordea Investment Management AB lifted its position in Solventum by 189.5% in the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company's stock valued at $43,902,000 after purchasing an additional 431,986 shares during the period. Everence Capital Management Inc. purchased a new stake in Solventum in the 4th quarter valued at approximately $305,000. Finally, Modus Advisors LLC acquired a new position in Solventum during the 4th quarter worth approximately $25,000.

Solventum Stock Up 1.2 %

NYSE:SOLV traded up $0.91 during mid-day trading on Friday, hitting $73.60. 1,514,789 shares of the company's stock traded hands, compared to its average volume of 1,102,035. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm's 50 day simple moving average is $69.09 and its 200 day simple moving average is $65.34.

Analysts Set New Price Targets

SOLV has been the subject of several recent analyst reports. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They issued a "peer perform" rating for the company. Mizuho initiated coverage on Solventum in a report on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 target price for the company. Piper Sandler upped their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a "buy" rating and a $82.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $68.29.

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.