Solventum (NYSE:SOLV) Updates FY 2024 Earnings Guidance

Solventum (NYSE:SOLV) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 6.300-6.500 for the period, compared to the consensus estimate of 6.240. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts recently commented on SOLV shares. Wells Fargo & Company dropped their price target on shares of Solventum from $69.00 to $64.00 and set an equal weight rating on the stock in a research report on Friday. Argus assumed coverage on Solventum in a research note on Monday, June 24th. They issued a hold rating for the company. Morgan Stanley lowered their price target on Solventum from $70.00 to $55.00 and set an equal weight rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group cut their price objective on Solventum from $54.00 to $48.00 and set a sell rating for the company in a research report on Wednesday, July 10th. Finally, Bank of America decreased their target price on Solventum from $70.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $56.75.

Solventum Price Performance

NYSE SOLV opened at $60.59 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.33 and a debt-to-equity ratio of 2.16. The stock’s fifty day moving average is $54.12. Solventum has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. On average, research analysts anticipate that Solventum will post 6.25 earnings per share for the current year.

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.