Raymond James Financial Inc. bought a new stake in Solventum Co. (NYSE:SOLV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in shares of Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new position in Solventum during the fourth quarter worth $26,000. Crews Bank & Trust purchased a new position in shares of Solventum during the fourth quarter worth $32,000. Synergy Asset Management LLC acquired a new stake in shares of Solventum in the fourth quarter valued at $35,000. Finally, Spire Wealth Management purchased a new stake in shares of Solventum in the 4th quarter valued at $37,000.
Solventum Stock Down 1.7 %
Solventum stock traded down $1.18 during midday trading on Friday, reaching $66.35. The company's stock had a trading volume of 141,899 shares, compared to its average volume of 1,307,799. The business has a 50-day simple moving average of $72.74 and a 200-day simple moving average of $71.57. The company has a market cap of $11.48 billion and a P/E ratio of 24.12. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $85.92. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a research report on Monday, March 3rd. Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on shares of Solventum from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, Piper Sandler lifted their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. One 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.86.
Read Our Latest Research Report on Solventum
About Solventum
(
Free Report)
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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