Harbor Capital Advisors Inc. Has $1.31 Million Stake in Solventum Corporation $SOLV

Harbor Capital Advisors Inc. reduced its stake in shares of Solventum Corporation (NYSE:SOLV) by 72.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,975 shares of the company’s stock after selling 46,933 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Solventum were worth $1,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Strong Tower Advisory Services boosted its stake in Solventum by 20.5% during the 3rd quarter. Strong Tower Advisory Services now owns 99,169 shares of the company’s stock worth $7,239,000 after acquiring an additional 16,851 shares during the last quarter. Great Waters Wealth Management boosted its position in shares of Solventum by 24.4% during the third quarter. Great Waters Wealth Management now owns 6,948 shares of the company’s stock worth $507,000 after purchasing an additional 1,361 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Solventum in the 3rd quarter valued at $200,000. Farther Finance Advisors LLC increased its position in shares of Solventum by 20.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,967 shares of the company’s stock valued at $217,000 after buying an additional 499 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in Solventum by 3.0% during the 3rd quarter. CHICAGO TRUST Co NA now owns 5,188 shares of the company’s stock worth $379,000 after buying an additional 150 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SOLV. UBS Group reissued a “neutral” rating on shares of Solventum in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a research note on Wednesday, December 17th. Wells Fargo & Company increased their price objective on shares of Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Finally, Wall Street Zen raised shares of Solventum from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.00.

Solventum Stock Performance

Shares of SOLV stock opened at $80.45 on Friday. Solventum Corporation has a 12 month low of $60.70 and a 12 month high of $88.20. The company’s fifty day simple moving average is $77.73 and its 200-day simple moving average is $74.87. The firm has a market cap of $13.95 billion, a PE ratio of 9.27, a P/E/G ratio of 8.46 and a beta of 0.26. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 1.03.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, November 6th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.07. Solventum had a net margin of 18.13% and a return on equity of 28.01%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $1.64 EPS. The company’s revenue was up .7% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. Equities research analysts expect that Solventum Corporation will post 6.58 EPS for the current fiscal year.

Solventum announced that its Board of Directors has initiated a share repurchase program on Thursday, November 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.