Covidien PLC Price Target Cut to $68.00 by Analysts at Jefferies Group (COV)
Equities research analysts at Jefferies Group reduced their price objective on shares of Covidien PLC (NYSE:COV) from $72.00 to $68.00 in a research note issued to investors on Monday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 10.91% from the company’s current price.
COV has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. upgraded shares of Covidien PLC (NYSE:COV) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. Separately, analysts at Needham & Company initiated coverage on shares of Covidien PLC (NYSE:COV) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $69.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Covidien PLC (NYSE:COV) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 14th. They now have a $67.00 price target on the stock.
Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $70.36.
Shares of Covidien PLC (NYSE:COV) traded up 1.42% on Monday, hitting $61.31. The stock had a trading volume of 2,482,408 shares. Covidien PLC has a one year low of $47.305 and a one year high of $64.10. The stock has a 50-day moving average of $61.52 and a 200-day moving average of $58.97. The company has a market cap of $28.202 billion and a price-to-earnings ratio of 16.06.
Covidien PLC (NYSE:COV) last announced its earnings results on Thursday, August 1st. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.89 by $0.04. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Covidien PLC will post $3.71 EPS for the current fiscal year.
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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