Harvey Investment Co. LLC Cuts Position in Solventum Co. (NYSE:SOLV)

Harvey Investment Co. LLC decreased its position in Solventum Co. (NYSE:SOLV) by 33.4% during the third quarter, HoldingsChannel.com reports. The fund owned 10,534 shares of the company’s stock after selling 5,284 shares during the quarter. Harvey Investment Co. LLC’s holdings in Solventum were worth $734,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SOLV. National Bank of Canada FI increased its position in Solventum by 4.0% in the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock worth $314,000 after purchasing an additional 236 shares during the last quarter. Copeland Capital Management LLC bought a new position in Solventum during the third quarter valued at $26,000. Mather Group LLC. purchased a new position in shares of Solventum in the 3rd quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Solventum by 64.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock worth $75,000 after buying an additional 422 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Solventum by 8.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,737 shares of the company’s stock valued at $400,000 after buying an additional 441 shares in the last quarter.

Solventum Stock Up 0.4 %

NYSE:SOLV opened at $72.78 on Thursday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The stock has a fifty day simple moving average of $67.02 and a 200-day simple moving average of $61.18.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that Solventum Co. will post 6.38 EPS for the current year.

Analysts Set New Price Targets

SOLV has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. BTIG Research assumed coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average price target of $64.33.

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.