Raymond James Financial Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Raymond James Financial Inc. purchased a new position in shares of Solventum Co. (NYSE:SOLV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 281,309 shares of the company's stock, valued at approximately $18,583,000. Raymond James Financial Inc. owned 0.16% of Solventum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC grew its position in Solventum by 373.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company's stock worth $3,323,000 after acquiring an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock worth $3,103,000 after buying an additional 9,333 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company's stock valued at $8,217,000 after buying an additional 32,051 shares in the last quarter. State Street Corp lifted its position in shares of Solventum by 3.1% in the third quarter. State Street Corp now owns 6,107,550 shares of the company's stock worth $425,818,000 after buying an additional 185,938 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Solventum during the 4th quarter worth about $1,876,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SOLV shares. Wells Fargo & Company boosted their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Morgan Stanley lifted their price objective on Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a report on Monday, March 3rd. Finally, Piper Sandler upped their target price on shares of Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.86.

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Solventum Stock Down 1.3 %

Shares of NYSE:SOLV traded down $0.99 during midday trading on Friday, reaching $74.00. The company had a trading volume of 1,909,215 shares, compared to its average volume of 1,429,703. The business's 50 day moving average price is $75.04 and its 200 day moving average price is $71.44. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a market cap of $12.80 billion and a PE ratio of 26.91.

About Solventum

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.