Healthcare solutions provider Solventum (NYSE: SOLV) will be reporting earnings this Thursday after the bell. Here’s what investors should know.
Solventum beat analysts’ revenue expectations last quarter, reporting revenues of $2.21 billion, up 2.2% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a beat of analysts’ EPS estimates.
Is Solventum a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Solventum’s revenue to decline 7.8% year on year, a deceleration from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Solventum has a history of exceeding Wall Street’s expectations.
Looking at Solventum’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CONMED posted flat year-on-year revenue, meeting analysts’ expectations, and Intuitive Surgical reported revenues up 21.7%, topping estimates by 5.3%. CONMED’s stock price was unchanged after the resultswhile Intuitive Surgical was down 2.3%.
Read our full analysis of CONMED’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.8% on average over the last month. Solventum is down 3.4% during the same time and is heading into earnings with an average analyst price target of $94.69 (compared to the current share price of $85.01).
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