Solventum (NYSE:SOLV) Issues FY 2024 Earnings Guidance

Solventum (NYSE:SOLV) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 6.300-6.500 for the period, compared to the consensus EPS estimate of 6.240. The company issued revenue guidance of -.

Solventum Trading Up 3.3 %

NYSE SOLV traded up $1.93 during trading on Friday, reaching $60.59. The company’s stock had a trading volume of 2,411,871 shares, compared to its average volume of 2,188,416. Solventum has a twelve month low of $47.16 and a twelve month high of $96.05. The business’s fifty day moving average is $54.12. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. Analysts expect that Solventum will post 6.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SOLV shares. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an equal weight rating on the stock in a research report on Friday. Morgan Stanley lowered their target price on shares of Solventum from $70.00 to $55.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Argus initiated coverage on shares of Solventum in a report on Monday, June 24th. They set a hold rating for the company. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group cut their target price on Solventum from $54.00 to $48.00 and set a sell rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $56.75.

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.