Solventum Corporation $SOLV Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Solventum Corporation by 12.0%, acquiring 33,790 additional shares, bringing its total ownership to approximately $23.96 million.
• Analysts have mixed ratings on Solventum, with four giving a Buy rating, six a Hold rating, and one a Sell rating, while the average target price is set at $85.75.
• Solventum reported $1.69 EPS in its latest quarterly earnings, exceeding expectations, with a revenue increase of 3.8% year-over-year.

Raymond James Financial Inc. boosted its stake in shares of Solventum Corporation (NYSE:SOLV - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,099 shares of the company's stock after acquiring an additional 33,790 shares during the quarter. Raymond James Financial Inc. owned about 0.18% of Solventum worth $23,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Solventum during the 1st quarter worth approximately $25,000. Strengthening Families & Communities LLC boosted its holdings in shares of Solventum by 376.8% during the first quarter. Strengthening Families & Communities LLC now owns 329 shares of the company's stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in Solventum in the fourth quarter valued at $25,000. Raiffeisen Bank International AG acquired a new position in Solventum in the fourth quarter valued at $29,000. Finally, Hara Capital LLC acquired a new position in shares of Solventum during the first quarter worth about $38,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOLV shares. Piper Sandler reaffirmed an "overweight" rating and set a $94.00 target price (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. KeyCorp initiated coverage on Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their target price on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded Solventum from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $85.75.

Solventum Price Performance

NYSE SOLV opened at $72.82 on Tuesday. The stock has a market capitalization of $12.63 billion, a P/E ratio of 33.71, a P/E/G ratio of 1.78 and a beta of 0.52. Solventum Corporation has a 1 year low of $59.35 and a 1 year high of $85.92. The business's fifty day moving average is $73.76 and its two-hundred day moving average is $72.84. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.86 and a current ratio of 1.22.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.24. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 earnings per share. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

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.

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