Equities research analysts at Citigroup (NYSE: C) reiterated a "buy" rating on shares of Covidien plc (NYSE: COV) in a research note to investors on Tuesday.
Separately, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Covidien plc to $60.00 in a research note to investors on Tuesday. They now have a "buy" rating on the stock. Also, analysts at Morgan Keegan raised their price target on shares of Covidien plc from $56.00 to $60.00 in a research note to investors on Tuesday, August 16th. They now have an "outperform" rating on the stock.
Shares of Covidien plc traded up 0.12% during mid-day trading on Wednesday, hitting $52.06. Covidien plc has a 52 week low of $35.12 and a 52 week high of $57.65. The stock's 50-day moving average is $50.05 and its 200-day moving average is $52.51. The company has a market cap of $25.689 billion and a price-to-earnings ratio of 13.99.
Covidien plc last announced its quarterly results on Tuesday, July 26th. The company reported $1.01 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.94 EPS by $0.07. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Covidien plc will post $0.00 EPS next quarter.
Covidien Public Limited Company, formerly Covidien Ltd. is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. The Company operates its businesses through three segments: Medical Devices, Pharmaceuticals and Medical Supplies. Medical Devices includes the development, manufacture and sale of endomechanical instruments, soft tissue repair products, energy devices, oximetry and monitoring products, airway and ventilation products, products used in vascular therapies and other medical products. Pharmaceuticals include the development, manufacture and distribution of specialty pharmaceuticals, active pharmaceutical ingredients, contrast products and radiopharmaceuticals. In July 2010, its Medical Devices segment acquired ev3 Inc. In July 2010, its Medical Devices segment acquired Somanetics Corporation. In November 2009, its Medical Devices segment acquired Aspect Medical Systems, Inc.
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