Raymond James Trust N.A. Sells 4,825 Shares of Solventum Co. (NYSE:SOLV)

Raymond James Trust N.A. lessened its stake in Solventum Co. (NYSE:SOLV) by 34.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,007 shares of the company’s stock after selling 4,825 shares during the quarter. Raymond James Trust N.A.’s holdings in Solventum were worth $628,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new position in Solventum during the first quarter worth about $5,889,000. CWM LLC purchased a new position in Solventum in the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. bought a new stake in Solventum during the 2nd quarter valued at $493,000. First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the second quarter worth $58,000. Finally, Swedbank AB bought a new position in shares of Solventum in the second quarter worth $4,711,000.

Solventum Trading Up 1.1 %

Shares of NYSE:SOLV opened at $71.58 on Tuesday. The company’s fifty day moving average price is $70.52 and its 200-day moving average price is $62.35. 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 one year low of $47.16 and a one year high of $96.05.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler boosted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley upped their price target on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.00.

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.