Hara Capital LLC Purchases Shares of 500 Solventum Corporation (NYSE:SOLV)

Hara Capital LLC purchased a new stake in shares of Solventum Corporation (NYSE:SOLV) in the first quarter, HoldingsChannel reports. The institutional investor purchased 500 shares of the company’s stock, valued at approximately $38,000.

Other large investors have also made changes to their positions in the company. Clarity Asset Management Inc. bought a new position in shares of Solventum during the 4th quarter valued at approximately $25,000. Rossby Financial LCC bought a new position in shares of Solventum during the 1st quarter valued at approximately $25,000. Raiffeisen Bank International AG bought a new position in shares of Solventum during the 4th quarter valued at approximately $29,000. Colonial Trust Co SC grew its stake in shares of Solventum by 240.7% during the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock valued at $34,000 after acquiring an additional 361 shares during the period. Finally, Banque Transatlantique SA bought a new position in Solventum in the 4th quarter worth approximately $42,000.

Wall Street Analyst Weigh In

SOLV has been the subject of several recent analyst reports. Piper Sandler upgraded Solventum from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $87.00 in a research note on Monday, May 19th. Argus upgraded Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. Finally, KeyCorp initiated coverage on Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.50.

Solventum Stock Down 0.9%

Shares of SOLV opened at $74.43 on Thursday. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55. Solventum Corporation has a 1 year low of $47.16 and a 1 year high of $85.92. The business’s 50 day simple moving average is $73.21 and its 200-day simple moving average is $72.31. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85.

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, topping the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. As a group, equities analysts expect that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.