Abacus FCF Advisors LLC Invests $909,000 in Solventum Co. (NYSE:SOLV)

Abacus FCF Advisors LLC acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 13,759 shares of the company’s stock, valued at approximately $909,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SOLV. Harbor Capital Advisors Inc. grew its holdings in shares of 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. State Street Corp lifted its position in Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Forsta AP Fonden purchased a new position in Solventum in the 4th quarter worth approximately $1,876,000. New York State Teachers Retirement System increased its holdings in shares of Solventum by 4.0% in the 4th quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock worth $8,238,000 after buying an additional 4,819 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Solventum during the 4th quarter valued at $990,000.

Solventum Stock Down 3.5 %

Shares of NYSE SOLV opened at $63.04 on Wednesday. The firm has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $71.78. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $10.91 billion and a PE ratio of 22.92.

Wall Street Analyst Weigh In

SOLV has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Mizuho raised their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Bank of America upped their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, March 3rd. Finally, Piper Sandler increased their target price on shares of Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned 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 price target 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.