Solventum (NYSE:SOLV) Issues FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

Solventum Stock Up 3.3 %

SOLV opened at $60.59 on Monday. The firm’s 50 day moving average is $54.12. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Solventum will post 6.25 EPS for the current fiscal 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.