Concurrent Investment Advisors LLC Acquires Shares of 3,050 Solventum Co. (NYSE:SOLV)

Concurrent Investment Advisors LLC bought a new position in shares of Solventum Co. (NYSE:SOLV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,050 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SOLV. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum in the 1st quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Solventum during the first quarter worth $209,000. LRI Investments LLC bought a new stake in Solventum during the 1st quarter valued at $43,000. Magnetar Financial LLC purchased a new position in shares of Solventum in the 1st quarter valued at $3,478,000. Finally, Alpine Global Management LLC bought a new position in shares of Solventum in the 1st quarter worth $1,766,000.

Solventum Stock Performance

NYSE SOLV opened at $71.53 on Tuesday. The stock has a 50-day moving average of $70.08 and a 200 day moving average of $62.00. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Morgan Stanley upped their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. BTIG Research started coverage on shares of Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Solventum has a consensus rating of “Hold” and an average price target of $68.00.

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.