Raymond James Financial Inc. Takes $18.58 Million Position in Solventum Co. (NYSE:SOLV)

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

Several other institutional investors have also added to or reduced their stakes in the business. New York Life Investment Management LLC lifted its position in Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after acquiring an additional 136 shares during the period. Blue Trust Inc. raised its stake in shares of Solventum by 2.1% in the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock worth $549,000 after purchasing an additional 161 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Solventum by 3.2% during the third quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock worth $373,000 after purchasing an additional 168 shares during the period. Avantax Advisory Services Inc. boosted its position in Solventum by 2.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after buying an additional 192 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Solventum by 48.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 687 shares of the company's stock worth $45,000 after buying an additional 223 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on SOLV. Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Mizuho upped their price target on shares of Solventum from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Piper Sandler lifted their price objective on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. The Goldman Sachs Group upped their target price on Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research note on Monday, March 3rd. Finally, Bank of America lifted their price target on Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $79.86.

Solventum Price Performance

NYSE SOLV traded up $1.01 during trading hours on Wednesday, reaching $65.95. The company's stock had a trading volume of 639,849 shares, compared to its average volume of 1,314,419. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $85.92. The company's 50-day moving average is $73.04 and its two-hundred day moving average is $71.60. The firm has a market capitalization of $11.41 billion and a price-to-earnings ratio of 23.98.

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.