Solventum (NYSE:SOLV) Issues FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Piper Sandler increased their target price on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Wolfe Research began coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Morgan Stanley decreased their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.00.

Solventum Price Performance

SOLV traded down $2.64 on Friday, hitting $72.43. 2,159,241 shares of the company were exchanged, compared to its average volume of 955,053. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The firm has a 50-day moving average price of $70.08 and a two-hundred day moving average price of $62.02. Solventum has a twelve month low of $47.16 and a twelve month high of $96.05.

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