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

Raymond James Trust N.A. cut its stake in shares of Solventum Co. (NYSE:SOLV) by 34.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

A number of other large investors have also bought and sold shares of the stock. Davis Selected Advisers acquired a new stake in shares of Solventum in the 2nd quarter valued at about $273,070,000. Nuance Investments LLC acquired a new stake in Solventum in the second quarter valued at approximately $115,829,000. Newport Trust Company LLC bought a new stake in shares of Solventum during the second quarter valued at approximately $98,976,000. Baupost Group LLC MA acquired a new position in shares of Solventum during the second quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC lifted its holdings in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. The Goldman Sachs Group upped their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Wells Fargo & Company decreased their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Piper Sandler raised their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, BTIG Research assumed coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.00.

Solventum Price Performance

Shares of Solventum stock opened at $71.58 on Tuesday. The business’s fifty day simple moving average is $70.52 and its 200 day simple moving average is $62.35. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

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.