Solventum (SOLV) Projected to Post Quarterly Earnings on Thursday

Solventum (NYSE:SOLV - Get Free Report) is projected to announce its earnings results before the market opens on Thursday, February 6th. Analysts expect the company to announce 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 - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.23). The business 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 Stock Performance

NYSE:SOLV traded up $0.88 on Thursday, hitting $75.38. The stock had a trading volume of 205,892 shares, compared to its average volume of 996,666. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The business's 50-day simple moving average is $70.00 and its two-hundred day simple moving average is $66.98. Solventum has a 52-week low of $47.16 and a 52-week high of $96.05.

Analyst Ratings Changes

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

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.