Harbor Capital Advisors Inc. Has $4.92 Million Stock Holdings in Solventum Corporation $SOLV

Key Points

• Harbor Capital Advisors Inc. increased its holdings in Solventum Corporation by 8.3%, owning 64,908 shares valued at approximately $4.9 million as of the end of the second quarter.
• Several analysts have rated Solventum, with four analysts giving a Buy rating and an average price target of $85.44, indicating a generally positive outlook.
• Solventum reported strong earnings, with an EPS of $1.69 for the last quarter, surpassing analysts' expectations and reflecting an annual revenue growth of 3.8%.

Harbor Capital Advisors Inc. raised its stake in Solventum Corporation (NYSE:SOLV - Free Report) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,908 shares of the company's stock after buying an additional 4,993 shares during the period. Harbor Capital Advisors Inc.'s holdings in Solventum were worth $4,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SOLV. Independent Franchise Partners LLP raised its stake in shares of Solventum by 263.1% in the 1st quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company's stock valued at $442,608,000 after acquiring an additional 4,217,570 shares during the period. Boston Partners lifted its stake in shares of Solventum by 101.3% in the 1st quarter. Boston Partners now owns 3,361,973 shares of the company's stock worth $255,554,000 after acquiring an additional 1,691,565 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after acquiring an additional 499,031 shares in the last quarter. Nuveen LLC acquired a new position in Solventum in the 1st quarter valued at approximately $35,375,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of Solventum by 570.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 504,392 shares of the company's stock worth $38,354,000 after purchasing an additional 429,109 shares during the last quarter.

Solventum Stock Down 0.8%

Shares of NYSE:SOLV traded down $0.60 during trading on Friday, reaching $73.77. 1,491,907 shares of the stock traded hands, compared to its average volume of 1,021,429. Solventum Corporation has a 52-week low of $60.70 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22. The stock has a market cap of $12.79 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.01 and a beta of 0.53. The stock has a 50-day moving average of $72.98 and a two-hundred day moving average of $72.37.

Solventum (NYSE:SOLV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.24. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.Solventum's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts expect that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Solventum from $79.00 to $82.00 and gave the company an "equal weight" rating in a report on Monday, September 15th. KeyCorp began coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Zacks Research upgraded Solventum from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 15th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Solventum from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $85.44.

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.