Solventum (SOLV) Scheduled to Post 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

Solventum (NYSE:SOLV) last posted its quarterly earnings results 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 company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect Solventum to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Solventum Stock Performance

NYSE SOLV opened at $73.57 on Thursday. Solventum has a 1 year low of $47.16 and a 1 year high of $96.05. The business’s fifty day moving average is $68.42 and its two-hundred day moving average is $61.49. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SOLV shares. Wells Fargo & Company lowered their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Piper Sandler began coverage on shares of Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley cut their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.