Abacus FCF Advisors LLC Buys 385 Shares of Solventum Co. (NYSE:SOLV)

Abacus FCF Advisors LLC raised its stake in shares of Solventum Co. (NYSE:SOLV) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,144 shares of the company’s stock after purchasing an additional 385 shares during the period. Abacus FCF Advisors LLC’s holdings in Solventum were worth $1,076,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its position in Solventum by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 4,560 shares of the company’s stock worth $347,000 after purchasing an additional 1,231 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Solventum by 27.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 59,915 shares of the company’s stock worth $4,556,000 after purchasing an additional 12,950 shares during the last quarter. Farther Finance Advisors LLC raised its position in Solventum by 140.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock worth $139,000 after purchasing an additional 1,064 shares during the last quarter. Hickory Point Bank & Trust bought a new position in Solventum during the 1st quarter worth $228,000. Finally, Wedge Capital Management L L P NC raised its position in Solventum by 570.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company’s stock worth $38,354,000 after purchasing an additional 429,109 shares during the last quarter.

Solventum Stock Performance

Shares of SOLV opened at $74.90 on Tuesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a 50-day moving average of $69.33 and a 200-day moving average of $71.58. The company has a market cap of $12.96 billion, a PE ratio of 34.68, a P/E/G ratio of 1.94 and a beta of 0.54. Solventum Co. has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. Solventum’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. On average, equities research analysts predict that Solventum Co. will post 6.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOLV shares. Piper Sandler raised Solventum from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. Wells Fargo & Company raised their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Bank of America increased their price target on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Mizuho increased their price target on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group increased their price target on Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.29.

Solventum Company 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.