Raymond James Financial Inc. Acquires Shares of 281,309 Solventum Co. (NYSE:SOLV)

Raymond James Financial Inc. bought a new position in shares of Solventum Co. (NYSE:SOLV) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 281,309 shares of the company’s stock, valued at approximately $18,583,000.

Several other large investors also recently bought and sold shares of SOLV. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Solventum during the third quarter worth $125,488,000. Trian Fund Management L.P. increased its position in Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Solventum during the 3rd quarter worth $50,948,000. Nordea Investment Management AB boosted its position in Solventum by 189.5% during the fourth quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock worth $43,902,000 after purchasing an additional 431,986 shares in the last quarter. Finally, KBC Group NV grew its stake in Solventum by 725.3% in the 4th quarter. KBC Group NV now owns 234,933 shares of the company’s stock valued at $15,520,000 after acquiring an additional 206,466 shares during the last quarter.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. The Goldman Sachs Group raised their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Mizuho boosted their price target on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Morgan Stanley raised their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, Bank of America upped 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.86.

Solventum Price Performance

NYSE SOLV opened at $75.04 on Tuesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a market capitalization of $12.98 billion and a price-to-earnings ratio of 27.29. The company has a 50 day simple moving average of $74.65 and a 200-day simple moving average of $71.30. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $85.92.

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.