Strategic Financial Concepts LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

Strategic Financial Concepts LLC bought a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,992 shares of the company's stock, valued at approximately $990,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Trian Fund Management L.P. boosted its holdings in shares of 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 acquiring an additional 1,765,676 shares in the last quarter. State Street Corp boosted its holdings in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock worth $425,818,000 after buying an additional 185,938 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Solventum by 4.0% during the third quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company's stock worth $232,608,000 after buying an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Solventum during the third quarter worth about $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Solventum by 0.4% during 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 worth $73,469,000 after buying an additional 3,745 shares in the last quarter.

Solventum Stock Down 0.4 %

SOLV traded down $0.28 during midday trading on Friday, reaching $74.04. 1,081,408 shares of the company's stock were exchanged, compared to its average volume of 875,989. 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 business's 50-day moving average price is $70.75 and its 200 day moving average price is $68.51. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Analyst Ratings Changes

A number of research firms recently commented on SOLV. Mizuho began coverage on shares of Solventum in a report on Wednesday, December 4th. They set a "neutral" rating and a $70.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Finally, Piper Sandler boosted their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Solventum has a consensus 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.