Solventum
Makes wound-care, surgical, and dental products alongside healthcare workflow software.
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Profile
Sells wound-care, infection-prevention, surgical, dental, orthodontic, and healthcare workflow products worldwide. MedSurg supplies most sales, while Dental Solutions and Health Information Systems broaden the portfolio; management is pursuing a separation of the software business to concentrate on medical and dental technology.
Develops healthcare products and software through MedSurg, Dental Solutions, and Health Information Systems. MedSurg covers wound care, infection prevention, surgical supplies, IV-site management, sterilization assurance, and patient monitoring. Dental Solutions sells restorative and orthodontic materials; Health Information Systems automates documentation, coding, reimbursement, speech recognition, and analytics.
Serves hospitals, clinics, dental practices, and health systems worldwide, with the United States contributing most sales. Long-term customer relationships and software embedded in provider workflows support retention.
Operates independently after its 2024 spin-off from 3M, while still using some 3M supply, manufacturing, and distribution infrastructure. Medical and dental products require regulatory clearance, and demand depends partly on provider reimbursement. Management is pursuing a separation of Health Information Systems to focus on MedSurg and Dental Solutions.
Company facts
Key statistics
Year to date +15.3% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Stifel Nicolaus | Target | $90 | $100 | ||
| Aug 6, 2026 | UBS | Reiterate | Buy | $95 | $101 | |
| Aug 6, 2026 | Mizuho Securities | Target | $100 | $113 | ||
| Aug 6, 2026 | KeyBanc | Reiterate | Overweight | $93 | $102 | |
| Aug 6, 2026 | BTIG | Reiterate | Buy | $91 | $95 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $1.90 | $2.55 | +34.2% | $2.15B | $2.21B | +2.6% | −5.16% |
| May 5, 2026Q1 FY26 | $1.35 | $1.48 | +9.6% | $1.97B | $2.01B | +2.0% | +2.84% |
| Feb 26, 2026Q4 FY25 | $1.50 | $1.57 | +4.7% | $1.96B | $2.00B | +1.8% | −3.56% |
| Nov 6, 2025Q3 FY25 | $1.43 | $1.50 | +4.9% | $2.06B | $2.10B | +2.0% | +7.91% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.07B | $2.16B | $2.10B | $2.00B | $2.01B | $2.21B | |
| Gross profit | $1.11B | $1.18B | $1.18B | $985.0M | $1.10B | $1.29B | |
| Operating income | $152.0M | $214.0M | $137.0M | $1.68B | $81.0M | $181.0M | |
| Net income | $137.0M | $90.0M | $1.27B | $63.0M | $13.0M | $92.0M | |
| Diluted EPS | $0.78 | $0.51 | $7.22 | $0.37 | $0.07 | $0.53 | |
| Gross margin | 53.8% | 54.4% | 56.2% | 49.3% | 54.7% | 58.2% | |
| Operating margin | 7.3% | 9.9% | 6.5% | 84.0% | 4.0% | 8.2% |
Fiscal years (4-quarter sums)FY22 $8.10B · FY23 $8.20B · FY24 $8.25B · FY25 $8.33B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $403.0M · Total debt $5.29B · Total assets $14.24B · Shareholders' equity $4.80B
Dividends
No dividends on record.
Ownership
Shares outstanding 173.17M · Float 147.07M · 84.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| 3M Co · 10 percent owner | 25.57M | 14.76% | Form 4 | Aug 18, 2025 |
| Independent Franchise Partners LLP | 16.17M | 9.34% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 9.76M | 5.64% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 9.62M | 5.56% | 13F | Aug 13, 2026 |
| Trian Fund Management, L.P. | 8.24M | 4.76% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 10, 2026 | Amy McBride Wendell | director | +1,475 | $68.03 |
Peers
- Smith & Nephew (ADR)
Advanced wound care rival across NPWT, dressings, and bioactives
- BD
OR infection-prevention and surgical-supplies overlap
- Microsoft
Rival in clinical speech, ambient AI notes, and EHR documentation
- Dentsply Sirona
Broad dental overlap in restoratives, prevention, orthodontics, and workflow
- STERIS
Sterility assurance and OR infection-prevention workflow competitor
- UnitedHealth Group
Revenue-cycle and analytics overlap through Optum Insight
- Envista
Broad dental portfolio overlap across consumables, equipment, and orthodontics
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Solventum | $90.50 | −0.68% | $15.78B | 11.1 | 13.5 | 1.9 | +2.2% |
| Smith & Nephew (ADR) | $28.72 | −0.93% | $12.17B | 19.2 | — | 1.9 | +3.7% |
| BD | $189.00 | −0.27% | $52.22B | 57.1 | 14.3 | 2.5 | −9.6% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Dentsply Sirona | $11.13 | +0.09% | $2.23B | — | 7.5 | 0.6 | −4.1% |
| STERIS | $233.78 | +0.06% | $22.78B | 28.6 | 20.4 | 3.8 | +7.8% |
| UnitedHealth Group | $392.50 | −0.12% | $356.86B | 25.3 | 18.4 | 0.8 | +0.4% |
| Envista | $27.00 | −0.52% | $4.41B | 46.8 | 17.2 | 1.5 | +7.1% |
| Median | 28.6 | 17.8 | 1.9 | +3.7% |