Solventum up after raising annual profit forecast

Shares of medical equipment maker Solventum SOLV.N rise 4.4% to $69.22

Co, spun off from 3M MMM.N last year, expects its 2025 adj EPS to be in the range of $5.98 to $6.08, up from its prior forecast of $5.88 to $6.03

Late on Thursday, co posted Q3 adj EPS of $1.50, beating Wall Street estimates of $1.42 - LSEG data

SOLV's Q3 rev of $2.10 billion comes in above estimate of $2.09 billion

Co also announced new "Transform for the Future" initiative, which is expected to generate about $500 million in annual savings once fully implemented and will cost roughly $500 million to execute over 4 years

Up to last close, stock had risen 0.3% YTD