Harvey Investment Co. LLC Has $517,000 Stock Position in Solventum Co. (NYSE:SOLV)

Harvey Investment Co. LLC decreased its position in Solventum Co. (NYSE:SOLV) by 25.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,832 shares of the company’s stock after selling 2,702 shares during the period. Harvey Investment Co. LLC’s holdings in Solventum were worth $517,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Solventum by 2.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,677 shares of the company’s stock worth $904,000 after purchasing an additional 264 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Solventum in the 4th quarter valued at about $990,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Solventum by 55.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,791 shares of the company’s stock worth $3,959,000 after buying an additional 21,362 shares during the last quarter. abrdn plc boosted its holdings in shares of Solventum by 0.5% during the 4th quarter. abrdn plc now owns 183,530 shares of the company’s stock worth $12,120,000 after buying an additional 834 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Solventum in the 4th quarter valued at about $37,000.

Solventum Trading Down 0.1 %

NYSE SOLV opened at $74.73 on Friday. The company has a fifty day simple moving average of $70.36 and a two-hundred day simple moving average of $67.80. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. On average, equities research analysts expect that Solventum Co. will post 6.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler upped their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.29.

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.