281,309 Shares in Solventum Co. (NYSE:SOLV) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Modus Advisors LLC bought a new stake in shares of Solventum during the 4th quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Solventum during the fourth quarter worth about $26,000. Crews Bank & Trust acquired a new position in Solventum during the fourth quarter worth $32,000. True Wealth Design LLC increased its holdings in shares of Solventum by 23,550.0% during the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock worth $33,000 after buying an additional 471 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Solventum in the third quarter valued at $35,000.

Solventum Trading Up 1.2 %

Shares of SOLV stock opened at $75.04 on Tuesday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92. The stock has a fifty day simple moving average of $74.65 and a two-hundred day simple moving average of $71.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a market capitalization of $12.98 billion and a PE ratio of 27.29.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SOLV shares. The Goldman Sachs Group raised their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Mizuho lifted their price target on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Bank of America lifted their price objective on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised their target price 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. Finally, Morgan Stanley increased their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.86.

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.