Solventum (SOLV) to Release Quarterly Earnings on Thursday

Solventum (NYSE:SOLV) is set to release its earnings data after the market closes on Thursday, November 7th. Analysts expect Solventum to post earnings of $1.38 per share for the quarter. Solventum has set its FY24 guidance at $6.30-6.50 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Solventum (NYSE:SOLV) 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 for the quarter was up .2% on a year-over-year basis. On average, analysts expect Solventum to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Solventum Price Performance

Shares of SOLV opened at $72.17 on Tuesday. Solventum has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The stock has a fifty day moving average price of $69.14 and a 200 day moving average price of $61.70.

Analyst Ratings Changes

A number of research firms recently weighed in on SOLV. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Piper Sandler started coverage on Solventum in a research report on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price on the stock. Stifel Nicolaus started coverage on Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.33.

About Solventum

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.