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Based in Saint Paul, Minnesota, Solventum Corporation (SOLV) is an independent healthcare company. With a market cap of $12.7 billion, it develops and commercializes a range of products across Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration to meet critical healthcare and patient needs. SOLV is expected to release its fiscal Q3 earnings results after the market closes on Thursday, Nov. 7.
Ahead of this event, analysts expect the healthcare company to report a profit of $1.38 per share. The company has surpassed Wall Street's bottom-line estimates in the past two quarters. It exceeded the consensus EPS estimate by 6.9% in the most recent quarter. For fiscal 2024, analysts expect SOLV to report EPS of $6.38.
Solventum has risen 13.9% over the past six months, underperforming both the S&P 500 Index's ($SPX) 14.2% gain. However, the stock has outpaced the Health Care Select Sector SPDR Fund's (XLV) 6.3% increase over the same period.
Shares of Solventum rose 3.3% following its Q2 earnings release on Aug. 8, driven by an adjusted EPS of $1.56, which exceeded analysts' expectations due to robust performance in its MedSurg and Health Information Systems segments. The company also raised its full-year guidance for organic sales growth and adjusted EPS to $6.30–$6.50, reflecting confidence in its operational improvements post-spinoff. Additionally, investors responded positively to Solventum’s stable free cash flow projections and a lowered effective tax rate, signaling strengthened financial positioning.
Analysts' consensus view on Solventum stock is cautious, with a "Hold" rating. Out of nine analysts covering the stock, one recommends a "Strong Buy," seven give a "Hold" rating, and one suggests a "Strong Sell" rating. As of writing, SOLV is trading above the average analyst price target of $67.83.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
