Covidien PLC Given New $70.00 Price Target at RBC Capital (COV)
Analysts at RBC Capital hoisted their price target on shares of Covidien PLC (NYSE:COV) from $65.00 to $70.00 in a research report issued to clients and investors on Tuesday, Stock Ratings News reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 1.79% from the stock’s previous close.
Shares of Covidien PLC (NYSE:COV) opened at 68.77 on Tuesday. Covidien PLC has a 52 week low of $52.6418 and a 52 week high of $69.84. The stock’s 50-day moving average is $67.53 and its 200-day moving average is $63.29. The company has a market cap of $31.112 billion and a price-to-earnings ratio of 19.29.
Covidien PLC (NYSE:COV) last released its earnings data on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.01. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the company posted $1.02 earnings per share. Covidien PLC’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Covidien PLC will post $3.99 earnings per share for the current fiscal year.
A number of other firms have also recently commented on COV. Analysts at JMP Securities initiated coverage on shares of Covidien PLC in a research note to investors on Friday, December 13th. They set an “outperform” rating and a $76.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Covidien PLC from $72.00 to $77.00 in a research note to investors on Thursday, December 5th. They now have an “overweight” rating on the stock. Finally, analysts at Benchmark Co. initiated coverage on shares of Covidien PLC in a research note to investors on Thursday, December 5th. They set a “buy” rating and a $82.00 price target on the stock. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.06.
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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