Gabelli Funds LLC Purchases 485 Shares of Solventum Co. (NYSE:SOLV)

by · The Markets Daily

Gabelli Funds LLC grew its position in shares of Solventum Co. (NYSE:SOLV – Free Report) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,656 shares of the company’s stock after acquiring an additional 485 shares during the quarter. Gabelli Funds LLC’s holdings in Solventum were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ontario Teachers Pension Plan Board raised its holdings in Solventum by 13.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 28,298 shares of the company’s stock worth $1,869,000 after acquiring an additional 3,310 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Solventum in the 4th quarter valued at approximately $718,000. Canada Post Corp Registered Pension Plan acquired a new position in Solventum during the fourth quarter worth $148,000. Independent Franchise Partners LLP raised its position in Solventum by 105.0% during the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after acquiring an additional 821,272 shares in the last quarter. Finally, Petros Family Wealth LLC acquired a new stake in Solventum in the fourth quarter valued at $205,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on SOLV. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Wells Fargo & Company lifted their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Morgan Stanley increased their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Mizuho lifted their price objective 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. Finally, Bank of America increased their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. One investment 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. According to data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and a consensus price target of $79.86.

Check Out Our Latest Stock Analysis on Solventum

Solventum Price Performance

NYSE:SOLV opened at $66.23 on Monday. 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 firm has a market cap of $11.46 billion and a price-to-earnings ratio of 24.08. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The firm’s 50-day simple moving average is $73.41 and its 200 day simple moving average is $71.67.

About Solventum

(Free Report)

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.

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