Solventum (SOLV) Scheduled to Post Earnings on Thursday

Solventum (NYSE:SOLV) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, August 8th. Analysts expect Solventum to post earnings of $1.46 per share for the quarter. Solventum has set its FY 2024 guidance at 6.100-6.400 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 9th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, analysts expect Solventum to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Solventum Trading Up 2.4 %

Shares of Solventum stock opened at $57.47 on Wednesday. Solventum has a 1 year low of $47.16 and a 1 year high of $96.05. The stock has a 50-day simple moving average of $54.21. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33.

Analysts Set New Price Targets

SOLV has been the subject of a number of analyst reports. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. Morgan Stanley reduced their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group cut their target price on Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Solventum has a consensus rating of “Hold” and a consensus target price of $58.00.

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.