Harbor Capital Advisors Inc. Purchases 12,950 Shares of Solventum Co. (NYSE:SOLV)

Harbor Capital Advisors Inc. boosted its position in shares of Solventum Co. (NYSE:SOLV) by 27.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,915 shares of the company’s stock after purchasing an additional 12,950 shares during the period. Harbor Capital Advisors Inc.’s holdings in Solventum were worth $4,556,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its stake in shares of Solventum by 4.0% in the fourth quarter. New York State Teachers Retirement System now owns 124,699 shares of the company’s stock worth $8,238,000 after acquiring an additional 4,819 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Solventum in the fourth quarter worth about $990,000. Raymond James Financial Inc. bought a new position in shares of Solventum in the fourth quarter worth about $18,583,000. Van ECK Associates Corp raised its stake in shares of Solventum by 28.7% in the fourth quarter. Van ECK Associates Corp now owns 47,224 shares of the company’s stock worth $3,120,000 after acquiring an additional 10,530 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Solventum by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the company’s stock worth $4,469,000 after acquiring an additional 14,065 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on SOLV. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Mizuho boosted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. The Goldman Sachs Group boosted their target price 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. Morgan Stanley boosted their price target on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One equities 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 data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus target price of $80.29.

Solventum Trading Up 0.8%

SOLV opened at $75.49 on Wednesday. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54. The firm has a 50 day simple moving average of $69.43 and a 200 day simple moving average of $71.61. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. On average, sell-side analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current year.

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.