Financial Harvest LLC Takes Position in Solventum Corporation (NYSE:SOLV)

Financial Harvest LLC bought a new stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 91,739 shares of the company's stock, valued at approximately $6,976,000. Solventum accounts for 4.6% of Financial Harvest LLC's investment portfolio, making the stock its 6th largest position. Financial Harvest LLC owned 0.05% of Solventum at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Solventum by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock valued at $1,074,591,000 after purchasing an additional 75,631 shares during the last quarter. Trian Fund Management L.P. lifted its stake in Solventum by 18.8% during the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after buying an additional 1,336,564 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Solventum by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock valued at $227,992,000 after acquiring an additional 112,686 shares in the last quarter. Norges Bank purchased a new stake in shares of Solventum in the 4th quarter valued at approximately $203,740,000. Finally, Invesco Ltd. lifted its position in shares of Solventum by 6.4% in the 4th quarter. Invesco Ltd. now owns 2,923,119 shares of the company's stock valued at $193,101,000 after acquiring an additional 176,201 shares in the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the subject of a number of research analyst reports. Morgan Stanley raised shares of Solventum from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $80.00 to $103.00 in a research report on Tuesday, July 15th. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating on the stock. Finally, Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and raised their target price for the company from $78.00 to $87.00 in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $84.38.

Solventum Stock Performance

SOLV traded down $0.57 during trading hours on Friday, reaching $73.29. The company's stock had a trading volume of 584,156 shares, compared to its average volume of 1,080,834. The firm has a market cap of $12.68 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.88 and a beta of 0.55. The company's 50-day moving average is $74.19 and its 200-day moving average is $72.71. Solventum Corporation has a 52 week low of $53.03 and a 52 week high of $85.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.85 and a current ratio of 1.19.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the company posted $2.08 EPS. Solventum's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Solventum Corporation will post 6.58 EPS for the current year.

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.