Solventum (SOLV) Projected to Post Quarterly Earnings on Thursday

Solventum (NYSE:SOLV) is anticipated to post its quarterly earnings results before the market opens on Thursday, February 6th. Analysts expect Solventum to post earnings of $1.31 per share for the quarter. Solventum has set its FY24 guidance at $6.50-6.65 EPS and its FY 2024 guidance at 6.500-6.650 EPS.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.23). The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. On average, analysts expect Solventum to post $7 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Solventum Trading Down 0.6 %

Solventum stock opened at $74.44 on Thursday. Solventum has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The firm’s fifty day moving average price is $69.87 and its 200 day moving average price is $66.92.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler boosted their price target on Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus initiated coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Mizuho started coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.29.

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.