Solventum (SOLV) Expected to Announce Earnings on Thursday

Solventum (NYSE:SOLV) is expected 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.15 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 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 Up 1.4 %

SOLV stock opened at $74.62 on Wednesday. The firm has a 50 day moving average of $70.21 and a two-hundred day moving average of $67.57. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum has a 12 month low of $47.16 and a 12 month high of $96.05.

Wall Street Analysts Forecast Growth

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