Essential Planning LLC. Invests $615,000 in Solventum Co. (NYSE:SOLV)

Essential Planning LLC. purchased a new position in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,794 shares of the company’s stock, valued at approximately $615,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOLV. Modus Advisors LLC purchased a new stake in Solventum in the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Solventum in the fourth quarter valued at approximately $26,000. True Wealth Design LLC raised its stake in Solventum by 23,550.0% in the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after purchasing an additional 471 shares in the last quarter. Crews Bank & Trust purchased a new stake in Solventum in the fourth quarter valued at approximately $32,000. Finally, Prospera Private Wealth LLC purchased a new stake in Solventum in the third quarter valued at approximately $35,000.

Solventum Stock Down 2.1 %

Shares of Solventum stock opened at $72.44 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The stock has a market capitalization of $12.53 billion and a price-to-earnings ratio of 26.34. The company’s 50 day moving average price is $74.37 and its 200-day moving average price is $70.97.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their price target on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Morgan Stanley increased their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price target on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Mizuho increased their price target on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.86.

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.