Solventum (SOLV) Set to Announce Earnings on Thursday

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

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue 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

Solventum stock opened at $72.17 on Tuesday. Solventum has a one year low of $47.16 and a one year high of $96.05. The company’s fifty day moving average price is $69.14 and its two-hundred day moving average price is $61.70. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

Analyst Ratings Changes

A number of brokerages recently weighed in on SOLV. Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. BTIG Research assumed coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Morgan Stanley lowered their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.33.

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.