Covidien PLC VP Sells $284,000 in Stock (COV)
Covidien PLC (NYSE:COV) VP Richard G. Brown, Jr. unloaded 4,000 shares of Covidien PLC stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $71.00, for a total transaction of $284,000.00. Following the transaction, the vice president now directly owns 54,040 shares of the company’s stock, valued at approximately $3,836,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Covidien PLC (NYSE:COV) traded up 0.04% on Friday, hitting $71.00. 2,182,145 shares of the company’s stock traded hands. Covidien PLC has a 52-week low of $53.0496 and a 52-week high of $71.16. The stock has a 50-day moving average of $68.4 and a 200-day moving average of $64.73. The company has a market cap of $32.003 billion and a P/E ratio of 20.62.
Covidien PLC (NYSE:COV) last announced its earnings results on Friday, January 24th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was down 13.6% on a year-over-year basis. Analysts expect that Covidien PLC will post $4.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 20th. Investors of record on Tuesday, January 28th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, January 24th.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Covidien PLC from $75.00 to $77.00 in a research note on Monday, January 27th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Covidien PLC from $70.00 to $71.00 in a research note on Monday, January 27th. Finally, analysts at Leerink Swann raised their price target on shares of Covidien PLC from $78.00 to $80.00 in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Covidien PLC has an average rating of “Buy” and a consensus price target of $74.69.
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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