Harbor Capital Advisors Inc. Has $4.56 Million Position in Solventum Co. (NYSE:SOLV)

Harbor Capital Advisors Inc. grew its stake in shares of Solventum Co. (NYSE:SOLV - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 in the last quarter. Trian Fund Management L.P. boosted its stake in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock worth $559,054,000 after acquiring an additional 1,336,564 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Solventum by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after buying an additional 112,686 shares during the last quarter. Norges Bank bought a new stake in Solventum during the fourth quarter valued at about $203,740,000. Finally, Invesco Ltd. grew its holdings in 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 buying an additional 176,201 shares during the last quarter.

Solventum Stock Down 0.9%

Shares of Solventum stock traded down $0.68 during trading on Friday, reaching $73.61. The stock had a trading volume of 597,591 shares, compared to its average volume of 1,198,862. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 1.94 and a beta of 0.54. The stock has a fifty day moving average price of $69.98 and a two-hundred day moving average price of $71.66. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. The business's revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. Sell-side analysts predict that Solventum Co. will post 6.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. KeyCorp started coverage on shares of Solventum in a research note on Friday, June 6th. They issued a "sector weight" rating for the company. Morgan Stanley raised their price objective 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 lifted their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $80.29.

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.