Raymond James & Associates holds $16.99M position in Solventum Co. (NYSE: SOLV)

Raymond James & Associates bought a new stake in Solventum Co. (NYSE:SOLV – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 321,226 shares of the company’s stock, valued at approximately $16,986,000. Raymond James & Associates owned 0.19% of Solventum as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in shares of Solventum in the second quarter valued at about $26,000. M&R Capital Management Inc. acquired a new position in shares of Solventum in the second quarter valued at about $27,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Solventum in the second quarter valued at approximately $27,000. SA Mason LLC purchased a new position in shares of Solventum in the second quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Solventum in the second quarter valued at about $29,000.

Analyst upgrades and downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Bank of America cut their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Finally, Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th . One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $58.25, according to MarketBeat.

Check out the latest inventory report on Solventum

Solventum stocks rose 0.2%

Shares of SOLV stock opened at $59.77 on Friday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The stock’s 50-day moving average price is $54.66. The company has a current ratio of 1.31, a quick ratio of 0.96, and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV – Get Your Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue was up 0.2% compared to the same quarter last year. As a group, equities analysts predict that Solventum Co. will post 6.4 EPS for the current fiscal year.

Solventum Company Profile

(Free report)

Solventum Corporation, a healthcare company, is committed to 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.

Further reading

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