Covidien plc Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:COV)
Shares of Covidien plc (NYSE:COV) have earned a consensus recommendation of “Buy” from the eighteen analysts that are currently covering the company, AnalystRatingsNetwork reports. Two analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.60.
COV has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Covidien plc in a research note on Tuesday, April 1st. They now have a $77.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Covidien plc from $74.00 to $79.00 in a research note on Thursday, March 27th. Finally, analysts at BTIG Research initiated coverage on shares of Covidien plc in a research note on Tuesday, March 11th. They set a “buy” rating on the stock.
Covidien plc (NYSE:COV) traded up 0.04% on Tuesday, hitting $70.70. 317,592 shares of the company’s stock traded hands. Covidien plc has a 52-week low of $53.0496 and a 52-week high of $73.77. The stock has a 50-day moving average of $71.0 and a 200-day moving average of $67.85. The company has a market cap of $31.868 billion and a P/E ratio of 20.53.
Covidien plc (NYSE:COV) last released its earnings data on Friday, January 24th. The company reported $1.00 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.97 earnings per share. Covidien plc’s revenue was down 13.6% compared to the same quarter last year. On average, analysts predict that Covidien plc will post $4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, May 5th. Investors of record on Monday, April 7th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, April 3rd.
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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