Solventum (SOLV) to Release Quarterly Earnings on Thursday

Solventum (NYSE:SOLV) is expected to be announcing 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) last announced its quarterly 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 firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate 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 %

SOLV stock opened at $74.44 on Thursday. The firm’s 50-day simple moving average is $69.87 and its 200 day simple moving average is $66.92. Solventum has a fifty-two week low of $47.16 and a fifty-two week 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.

Wall Street Analysts Forecast Growth

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