Proficio Capital Partners LLC Takes Position in Solventum Co. (NYSE:SOLV)

Proficio Capital Partners LLC acquired a new stake in Solventum Co. (NYSE:SOLV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,385 shares of the company's stock, valued at approximately $1,545,000.

Several other hedge funds also recently bought and sold shares of SOLV. New York Life Investment Management LLC raised its holdings in shares of Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after acquiring an additional 136 shares in the last quarter. Apriem Advisors purchased a new stake in Solventum in the fourth quarter valued at approximately $333,000. Bank of New York Mellon Corp lifted its holdings in shares of Solventum by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 943,699 shares of the company's stock worth $62,341,000 after acquiring an additional 36,907 shares during the last quarter. Fisher Funds Management LTD bought a new position in Solventum in the fourth quarter valued at $709,000. Finally, Wolverine Asset Management LLC bought a new position in Solventum in the fourth quarter valued at $11,296,000.

Analyst Ratings Changes

SOLV has been the subject of a number of research reports. Bank of America upped their price objective on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Piper Sandler upped 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. Wells Fargo & Company lifted their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Morgan Stanley raised their price target on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.86.

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Solventum Trading Down 0.3 %

NYSE SOLV traded down $0.21 on Monday, hitting $77.73. The company's stock had a trading volume of 1,604,126 shares, compared to its average volume of 1,049,530. The firm has a market cap of $13.45 billion and a P/E ratio of 28.26. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company's 50-day simple moving average is $73.65 and its 200 day simple moving average is $70.71. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

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.