Solventum (NYSE:SOLV) Releases FY 2024 Earnings Guidance

Solventum (NYSE:SOLV) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.500-6.650 for the period, compared to the consensus estimate of 6.380. The company issued revenue guidance of -. Solventum also updated its FY24 guidance to $6.50-6.65 EPS.

Analyst Ratings Changes

Several brokerages recently issued reports on SOLV. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Morgan Stanley cut their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus started coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.00.

Solventum Trading Down 3.5 %

Shares of NYSE SOLV traded down $2.64 during midday trading on Friday, reaching $72.43. The stock had a trading volume of 2,159,241 shares, compared to its average volume of 955,053. Solventum has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average price is $70.08 and its 200 day moving average price is $62.02.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Solventum will post 6.59 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.