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

Raymond James Financial Inc. purchased a new stake in Solventum Co. (NYSE:SOLV) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Solventum by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock worth $1,074,591,000 after buying an additional 75,631 shares during the period. Geode Capital Management LLC lifted its position in Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock worth $227,992,000 after acquiring an additional 112,686 shares during the period. Norges Bank purchased a new position in shares of Solventum in the 4th quarter valued at approximately $203,740,000. Invesco Ltd. increased its holdings in shares of Solventum by 6.4% in the fourth quarter. Invesco Ltd. now owns 2,923,119 shares of the company’s stock valued at $193,101,000 after purchasing an additional 176,201 shares during the period. Finally, Boston Partners purchased a new stake in shares of Solventum during the fourth quarter worth approximately $110,378,000.

Wall Street Analysts Forecast Growth

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

Solventum Price Performance

Solventum stock opened at $66.23 on Monday. The firm has a market capitalization of $11.46 billion and a PE ratio of 24.08. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $85.92. The firm’s 50-day simple moving average is $73.41 and its 200 day simple moving average is $71.67. 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 Company 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.