Investment analysts at Atlantic Securities assumed coverage on shares of Covidien plc (NYSE: COV) in a note issued to investors on Wednesday. The firm set an “overweight” rating on the stock.
Covidien plc opened at 64.71 on Wednesday. Covidien plc has a 1-year low of $50.25 and a 1-year high of $64.71. The stock’s 50-day moving average is currently $62.49. The company has a market cap of $30.546 billion and a price-to-earnings ratio of 16.44.
Covidien plc last released its earnings data on Friday, January 25th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.06 by $0.04. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.00 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Covidien plc will post $4.48 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Covidien plc in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Covidien plc in a research note to investors on Tuesday, February 26th. They now have a $65.00 price target on the stock.
Eighteen analysts have rated the stock with a buy rating, and three have issued a hold rating to the stock. The company presently has an average rating of “buy” and a consensus target price of $69.25.
Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings.
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