Solventum (NYSE:SOLV) Posts Quarterly Earnings Results, Beats Expectations By $0.65 EPS

Solventum (NYSE:SOLVGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $2.55 EPS for the quarter, beating the consensus estimate of $1.90 by $0.65, FiscalAI reports. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.15 billion. Solventum had a net margin of 17.33% and a return on equity of 23.51%.

Solventum Stock Performance

Shares of NYSE:SOLV traded down $0.68 during trading on Wednesday, reaching $87.26. The company had a trading volume of 1,547,166 shares, compared to its average volume of 1,410,159. Solventum has a fifty-two week low of $62.38 and a fifty-two week high of $88.65. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.07 and a quick ratio of 0.75. The stock’s fifty day moving average price is $78.87 and its 200 day moving average price is $74.31. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60.

Hedge Funds Weigh In On Solventum

Several institutional investors have recently bought and sold shares of SOLV. Pacer Advisors Inc. lifted its stake in shares of Solventum by 28.2% in the 4th quarter. Pacer Advisors Inc. now owns 17,149 shares of the company’s stock worth $1,359,000 after acquiring an additional 3,768 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Solventum by 1,482.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 538 shares of the company’s stock worth $43,000 after purchasing an additional 504 shares in the last quarter. Invesco Ltd. lifted its position in Solventum by 3.4% in the fourth quarter. Invesco Ltd. now owns 2,930,010 shares of the company’s stock valued at $232,174,000 after purchasing an additional 96,236 shares during the period. Corient Private Wealth LLC boosted its holdings in Solventum by 8.3% in the 4th quarter. Corient Private Wealth LLC now owns 44,882 shares of the company’s stock valued at $3,334,000 after purchasing an additional 3,443 shares in the last quarter. Finally, CrossGen Wealth LLC purchased a new stake in Solventum in the 4th quarter valued at approximately $25,000.

Wall Street Analyst Weigh In

SOLV has been the topic of several recent research reports. BTIG Research restated a “buy” rating and set a $91.00 price target on shares of Solventum in a report on Monday, July 13th. Wells Fargo & Company lowered their target price on shares of Solventum from $83.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. BMO Capital Markets initiated coverage on shares of Solventum in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $81.00 price target on the stock. Weiss Ratings raised shares of Solventum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 17th. Finally, UBS Group raised Solventum from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.00.

Get Our Latest Research Report on SOLV

Solventum Company Profile

(Get Free Report)

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.

Further Reading

Earnings History for Solventum (NYSE:SOLV)

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